Mo Money Taxes CEO opening new business

PORTSMOUTH, Va. (WAVY) - While investigations continue, the CEO of Mo Money Taxes is opening up a new company. It's called Marquis Taxes and it will be the same type of business that Mo Money was, a tax preparation company.

A commercial was just released by MoneyCo. USA for the new company.  It's a theatrical video where one of the CEOs, Markey Granberry, and his colleagues are hounded by reporters.

In the commercial, an actress asks Granberry, "What are your plans for this year's tax season?"  

Granberry responds, "My plans are to offer free tax preparation and electronic filing to my faithful and loyal clients."

Another actress asks, "What about last year?"

Granberry responds in the commercial, "You know it never was reported that we were innocent, right?"

Granberry sent a statement on the business to our Memphis affiliate, WMC , via text message saying, [The issues that occurred last year were the fault of a third party vendor which we have disassociated ourself with and we will own n operate 1off. marquis taxes.]

Hundreds of former clients in Norfolk complained they never received their tax refunds. Clients lined up outside one Norfolk location in February and police had to stand by. Now all six locations of Mo Money Taxes have closed. Lawmakers from six states received complaints about Mo Money.  A legal investigation and IRS investigation is still going on.

"Well, I'm delighted that he's not bringing the business back to Hampton Roads," Congressman Bobby Scott said. "It was obviously a disaster when he ran the business here. I think it's important to note that the internal revenue service has services to help people file their taxes if you make less than $57,000 a year."

Granberry has not been charged during the various investigations. Marquis Taxes will open up in 2013.