Samuel J.T. Moore III, owner of the now-closed Velvet gentlemen’s club in Shockoe Bottom, has been indicted on federal tax charges.
The grand jury indictment, filed yesterday in the U.S District Court in Richmond, accuses Moore of depriving the Internal Revenue Service of $290,955. ¶
The indictment alleges that Moore provided information to his accountant that "grossly understated the daily cash proceeds received from lap dances, dancer [fees], and/or door cover charges" in 2005, 2006 and 2007 and that a significant portion of the money was used to fund automatic teller machines at the nightclub.
"After deducting all possible credits for 2005, 2006 and 2007, the total amount of unreported cash used to fund these machines is at least $791,126," according to the indictment. The understatement of funds resulted in a tax loss to the IRS of about $290,955, according to the indictment.
Moore closed the club in May after the Virginia Alcoholic Beverage Control Board's decision to revoke the club’s license to sell beer and wine, less than a day after hearing Velvet’s appeal of a February ruling that revoked the license for nine violations of state ABC laws.
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