Mo Money owner talks about new business

NORFOLK, Va. (WAVY) - The former owners of a Mo Money Taxes location in Norfolk are back in town to start a new tax company.

Keith Hill, who owned the franchise on East Little Creek Road with business partner Patrick Townsend spoke exclusively to WAVY.com Monday.

Hill said customers were not the only victims of the Mo Money scheme. He claimed the company never paid him either.

"We were the right guys with the wrong company," Hill said.

Recounting long lines and angry customers, Hill said he, too, was a victim of a corporate scheme. Hill said, at times, he used his own savings to pay customers, when Mo Money Taxes did not provide their tax returns.

"Outside looking in, it just looked very bad," Hill said.

Hill said he has since broken ties with Mo Money and is starting a new tax company, under the new name TAX USA. Hill acknowledged the old "Mo Money" moniker wasn't the best for business.

"We know the last name really wasn't a good name, so we're definitely trying to show the city of Norfolk that we are good people and we didn't come here to patronize people, insult their intelligence or show them that we didn't take them seriously," Hill said.

Hill would not go into detail about what he believes went wrong, but did say both he and Townsend are cooperating with the IRS investigation into Mo Money, even going to federal court in Norfolk to testify.

"We know we didn't do anything," said Hill. "That's why we're not running from the situation. We did what we were supposed to do as preparers. As far as the company, I can't speak on that."

Hill invited 10 On Your Side to come to TAX USA once he sets up shop in Norfolk. WAVY.com plans to take him up on that offer.

"Hopefully there will be a light at the end of this tunnel," said Hill.

Hill and Townsend did not have a valid business license for their Mo Money Norfolk office. A city spokesperson says the city does have the right to deny licenses as it sees fit.

It is not clear if that will make it more difficult for Hill and Townsend this time around.

There is no set time or place for the opening of TAX USA. Hill says he is looking at several locations, including his former office on East Little Creek Road.

Hill said his former customers can email TAX USA for assistance.