Facts (18)
Data Freshness
Fresh
Last update: 12d ago · Avg age: 292d
Confidence Tiers:
Primary Source — cross-referenced government/corporate filings
Pending Review — sourced but not independently verified
AI Inference — analytical hypothesis from cross-referencing
Documented Records (17)
Sourced from government databases, press reports, and corporate filings. Not yet independently verified.
Primary Source
Senate Report 105-22 established a Commission to make recommendations on policies for a secure and self-sustaining future for the Virgin Islands economy through 2020, with a report due to the Senate Committee on Energy and Natural Resources and House Committee on Resources by June 30, 1999
Primary Source
The Virgin Islands Economic Development Commission conducts regular public hearings in accordance with Section 717 Chapter 12 of Title 29, Virgin Islands Code, as documented in multiple official notices
Primary Source
Representative Plaskett testified before the House Committee on House Administration in a hearing titled 'Voting Rights and Election Administration in the U.S. Virgin Islands and Other Territories,' referencing her previous role as general counsel for the Virgin Islands Economic Development Authority
Primary Source
Wayne L. Biggs, Jr., Chief Executive Officer of the Virgin Islands Economic Development Authority, provided testimony to the Committee on Budget, Appropriations and Finance for the FY 2026 Budget regarding USVIEDA operations
Primary Source
Federal court case USCOURTS-ca3-15-01406 identified the Virgin Islands Economic Development Authority and Economic Development Commission as defendants in litigation involving tax incentive businesses
Primary Source
Representative Stacey Plaskett served as general counsel for the Virgin Islands Economic Development Authority prior to serving in Congress, as documented in the Congressional Directory
Primary Source
A lawsuit recently filed in the Virgin Islands District Court is accusing a local company of being nothing but a front for a pyramid scheme involving Mac Private Equity Inc.
Primary Source
Federal Internal Revenue Service agents executed search warrants against Kapok Management LP, a financial services company on St. Croix that receives tax benefits as an Economic Development Commission beneficiary, shutting the company down
Primary Source
Jackson, as the representative of Kapok and Kapok Management falsely declared that 'We had no knowledge whatsoever that Gary Payne, a Kapok Management limited partner, was not a resident of the Virgin Islands' while appearing as a sworn witness before a Special Meeting of Economic Development Commission
Primary Source
Count 22 of the Second Superseding Indictment charges that defendants, Jackson, Kapok and Kapok Management made materially false and fraudulent statements and representations in a matter within the jurisdiction of the EDC, in violation of 14 V.I.C. § 843
Primary Source
The defendants conspired to make false statements regarding Kapok Management's business plan, the residency of its limited partners and employees, and its gross sales and eligible income
Primary Source
Kapok Management was approved as a DSB and received a beneficiary certificate to conduct business providing financial, economic, and management consulting services to clients outside the United States Virgin Islands
Primary Source
The Huff case stems from the IRS audit of a taxpayer that took Virgin Islands Economic Development credits under Internal Revenue Code section 934
Primary Source
Judge Jacobs of the United States Tax Court refused to allow a taxpayer to interplead the Government of the Virgin Islands as a party to Tax Court litigation under U.S. Tax Court Rule 1(b) and Federal Rule of Civil Procedure 22 in the case Huff v. Commissioner, 135 T.C. 30 (2010)
Primary Source
Based on EDC records, neither Mac Private Equity Inc. nor MPE Clearing & Holdings, Inc. has applied for tax incentives and neither has been a beneficiary of the EDC Tax Incentive Program
Primary Source
Count 21 states that all defendants conspired to commit the crime of making materially false and fraudulent statements and representations on matters within the jurisdiction of agencies of the government of the Virgin Islands, namely, the Economic Development Commission (EDC), formerly known as the Industrial Development Commission (IDC), and the Bureau of Internal Revenue
Partially Corroborated
Virgin Islands Economic Development Commission (EDC) filed filing with the SEC on 2005-04-15. Accession number: N/A.
Raw Filing Records (1) — unsourced metadata
Pending Review
Search scope note: No usaspending contracts found for "Virgin Islands Economic Development Commission (EDC)" in automated database search as of 2026-04-12. This reflects search coverage limits, not confirmed absence from public record.
Added: 12 Apr 2026
UNVERIFIED Research: Virgin Islands Economic Development Commission (EDC) — USASpending con…
All Connections (5)
regulatory_interaction
primary
since 2010
IRS audited taxpayers taking Virgin Islands Economic Development credits under Internal Revenue Code section 934, as seen in the Huff v. Commissioner case where Judge Jacobs refused to allow interpleading the Government of the Virgin Islands as a party to Tax Court litigation
organizational_relationship
primary
since 2015
Both entities were identified as defendants in federal court case USCOURTS-ca3-15-01406 involving tax incentive businesses, and Wayne L. Biggs, Jr. serves as CEO of the Virgin Islands Economic Development Authority while providing testimony regarding USVIEDA operations
regulatory_filing
primary
since 2005
Virgin Islands Economic Development Commission filed with the SEC on 2005-04-15
law_enforcement_investigation
primary
since 2010
Federal Internal Revenue Service agents executed search warrants against Kapok Management LP, a financial services company on St. Croix that receives tax benefits as an Economic Development Commission beneficiary, in connection with criminal conspiracy charges involving false statements to the EDC
beneficiary
confirmed
Southern Trust received over $300 million in tax benefits from EDC
Sources (14)
2026
UNVERIFIED Research: Virgin Islands Economic Development Commission (EDC) — Lobbying disclo…
government_disclosure
Processed
2026
UNVERIFIED Research: Virgin Islands Economic Development Commission (EDC) — Corporate regis…
government_disclosure
Processed
2026
UNVERIFIED Research: Virgin Islands Economic Development Commission (EDC) — USASpending con…
contract
Processed
Goblin House