NORFOLK, Va. (WAVY) - When 10 On Your Side's Anne McNamara traveled to Memphis to confront the CEO of Mo Money Taxes, he stuck to his story.
"I don't have the money," CEO Markey Granberry said. "I don't have the money."
Turns out, he's right.
Mo Money Taxes works with a company named Adroit Software, LLC to process refund checks, and Adroit Software contracts with a processor called up2U, LLC.
Up2U President & CEO Eric Miller told WAVY.com the refund money is in up2U's bank accounts.
"Neither Markey, nor any of the Mo Money principals have access, can even touch this money," Miller said in a phone interview Friday.
On Feb. 10, up2U assumed complete control of printing refund checks, citing Mo Money struggled to do it correctly.
"For the taxpayers to be able to cash their checks, the check cashing community has to have some confidence if they do cash that check, they're going to get paid," Miller said.
Miller added, in some cases, Mo Money employees printed two versions of the same check, one void, the other valid, but gave the voided checks to customers.
"I believe that was a mistake and not purposeful," Miller said.
Miller says up2U found some checks were delayed because Mo Money employees entered information into the system incorrectly. To date, Miller has counted at least 1,000 exceptions, a number he says is uncommon for a single tax preparer.
To add to the frustration, Mo Money Taxes locations in Norfolk and other states shut down. Miller called the breakdown in communication with customers 'sad.'
"Mr. Granberry and Mo Money is trying to do the best they can to not be responsible for this, and I fully understand that," Miller said. "At the same time, I have heard Markey has described himself as 'I'm just a button pusher,' but, frankly he's more than that."
When asked if his company will continue to work with Mo Money Taxes in the future, Miller said, "Under the circumstances that we have experienced in the last three weeks, no."
As of Friday morning, Miller says nearly 8,000 refund checks have cashed for a total of about $36 million. He said up2U is mailing refund checks to the home addresses customers listed on tax returns.
"We're going to do everything we can to get you your money as quickly, and as safely and efficiently as we possibly can," Miller promised customers Friday.
Meanwhile, Value Bank Texas posted an 'important message' for Mo Money customers on its website Friday. It read as follows:
"ValueBank Texas is not affiliated with Mo Money or any other tax preparer. There are some tax refund checks that are drawn on ValueBank but control and distribution of the funds is handled by an third party refund processor who may be contacted at 1-855-872-8411."
Miller says customers with concerns can call the up2U hotline number to check their refund status. Again, the number to call is (855) 872-8411.
Adroit Software , the middle man between Mo Money Taxes and the processor up2U, is run by CEO Doug Hughes. Last year, the BBB of Middle Tennessee and Southern Kentucky, issued a consumer alert against Hughes' company TRX, also known as Tax Refund Xpress.
The BBB gave Hughes' company an 'F' rating. The alert says the following: "A more appropriate name style for this firm may be Tax Refund Delays."
When WAVY.com called the number for Adroit Software listed on refund checks, the voicemail said the company was formally called TRX.
Stay with WAVY News 10 and WAVY.com for updates on this 10 On Your Side investigation.
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