Capitol Hill to address Mo' Money problems in hearing Thursday

Published: Jun. 27, 2012 at 9:19 PM EDT|Updated: Jun. 28, 2012 at 12:58 PM EDT
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Mo' Money CEO and founder Markey Granberry
Mo' Money CEO and founder Markey Granberry

Mo' Money's problems are headed for Capitol Hill. Congress will take up the issue of tax preparation complaints in a subcommittee hearing Thursday morning.

Mo' Money Tax Preparation is expected to be the focus of the hearing. 12 On Your Side Investigates has been looking into Mo' Money complaints since February.

Congressman Bobby Scott requested this hearing. Two officials with the Internal Revenue Service have been asked to testify.

The U.S. House Judiciary Committee's subcommittee on crime, terrorism, and homeland security will engage in an oversight hearing on identity theft and income tax preparation.

"There will be a hearing on Thursday," said Steven Cohen (D-TN). "I think it's fraud. And nobody should be... that's an awful thing, that people did not get their tax returns."

Memphis Democrat Steve Cohen is one of two congressman who requested the hearing after a long list of complaints that stretched several months, all centered around Mo' Money Taxes.

"It's worthless," said one client. "Woman at the bank told me it don't even exist."

Some customers got bogus tax refund checks. Some got nothing at all. Some found personal records tossed in the dumpster outside the building.

Eventually, in April, IRS criminal investigators seized property from Mo' Money headquarters — though CEO and founder Markey Granberry said he invited them over.

Thursday's hearing on Capitol Hill is a general discussion of the tax preparation issue, But Cohen said Mo' Money will be a topic of conversation.

"Possibly had some questions, we don't know if there's illegalities or not, but that's something the justice department or somebody may be looking into," said Cohen.

Mo' Money's owner told a Memphis TV station this week that he is not a thief and hasn't committed any crime.

He blamed all the refund issues on the processor and software company that helped him issue the checks.

Thursday's hearing begins at 9:45 a.m. in room 2141 of the Rayburn House Office Building in Washington, D.C.

Copyright 2012 WWBT NBC12.  All rights reserved.