NEW: Luray-Based Firm Admits Tax Fraud

IBR Corp. Was Raided Six Years Ago

Posted: May 1, 2014

Daily News-Record

Nearly six years after federal agents raided properties of Luray-based IBR Corp., authorities filed a criminal charge Wednesday in U.S. District Court in Abingdon.

The case began May 29, 2008, when FBI and Internal Revenue Service agents confiscated financial documents and “company-related money” from four Page County properties owned by brothers William and Isaac George, including a home and two IBR Corp. buildings, all in Luray, and the Valley Exxon in Stanley.

The company signed a plea agreement admitting to tax fraud during the 2007 calendar year. It agreed to pay a $5,000 fine.

Read more on this developing story in tomorrow’s print and online editions.

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