{"entity":{"id":2767,"slug":"virgin-islands-economic-development-authority-eda","name":"Virgin Islands Economic Development Authority (EDA)","type":"government_agency","role":"Authority that oversees tax incentive programs","description":null,"imageUrl":null,"createdAt":"2026-04-12T01:52:05.389Z","updatedAt":"2026-05-19T09:22:40.121Z"},"electedOffice":null,"significance":{"score":7.2,"components":{"totalFindings":0,"connectionDegree":3.2,"recentFindings90d":0,"activeResearchJobs":0,"goblinAttributions":4,"recentSyntheses90d":0,"moneyFlowChainsTotal":0,"closedLoopMemberships":0,"moneyFlowHopsRecent90d":0},"computedAt":"2026-10-16T01:34:31.424Z"},"facts":[{"id":13340,"text":"Wayne L. Biggs, Jr. testified for the Fiscal Year 2026 budget before the Committee with executive team members Dwayne A. Benjamin and Tracy Lynch Bhola, Esquire, General Counsel","confidence":"primary","dateOccurred":"2025-07-21","source":{"title":"Legislature of the United States Virgin Islands - Economic Development and Agriculture","url":"https://legvi.org/committee/economic/","publication":"legvi.org"}},{"id":13344,"text":"Wayne Biggs, director of the Economic Development Authority, testified before legislators regarding concerns about consumption tax proposals potentially making incentive programs more difficult to sell","confidence":"primary","dateOccurred":"2024-12-15","source":{"title":"Legislature of the United States Virgin Islands - Economic Development and Agriculture","url":"https://legvi.org/committee/economic/","publication":"legvi.org"}},{"id":13349,"text":"VIEDA proposed FY 2025 Budget includes $5,175,616 allocated to Personnel Services with 48 full-time positions, 43 currently filled positions, and 5 vacancies including one new position","confidence":"primary","dateOccurred":"2024-08-29","source":{"title":"Consumption Tax Proposal Draws Pushback During Economic Development Hearing","url":"https://viconsortium.com/vi-economy/virgin-islands-consumption-tax-proposal-draws-pushback-during-economic-development-hearing","publication":"viconsortium.com"}},{"id":13348,"text":"Wayne Biggs, Chief Executive Officer of the Virgin Islands Economic Development Authority delivered its proposed FY 2025 Budget of $6,613,000 to the Committee on Budget, Appropriations, and Finance","confidence":"primary","dateOccurred":"2024-08-29","source":{"title":"Virgin Islands Economic Development Commission (“VIEDC”) Public Hearing | St. Thomas Source","url":"https://stthomassource.com/content/2024/11/26/virgin-islands-economic-development-commission-viedc-public-hearing/","publication":"stthomassource.com"}},{"id":13336,"text":"Virgin Islands Economic Development Authority CEO Wayne Biggs Jr. issued press release calling statements by Mac Private Equity about pending EDC status 'false and misleading' and stated that neither Mac Private Equity Inc. nor MPE Clearing & Holdings, Inc. has applied for tax incentives","confidence":"primary","dateOccurred":"2024-04-15","source":{"title":"EDA denies ties to company accused of running Ponzi scheme | News | virginislandsdailynews.com","url":"https://www.virginislandsdailynews.com/news/eda-denies-ties-to-company-accused-of-running-ponzi-scheme/article_a9c48f65-5ed9-5e2c-a878-890458d63542.html","publication":"www.virginislandsdailynews.com"}},{"id":13335,"text":"Lawsuit filed Monday in U.S. District Court by attorney Michael Sheesley on behalf of plaintiff Alex Gibson, naming defendants B. Matthew McClafferty, Mac Private Equity Inc., and MPE Clearing & Holdings, Inc., with EDA denying ties to the company accused of running a Ponzi scheme","confidence":"primary","dateOccurred":"2024-04-15","source":{"title":"USVIEDA – United States Virgin Islands Economic Development Authority","url":"https://usvieda.org/","publication":"usvieda.org"}},{"id":13341,"text":"Virgin Islands Economic Development Authority had refused to release any information about the tax benefits that Jeffrey Epstein received for years, until figures were made public in 2023 as part of a lawsuit the government filed against JP Morgan","confidence":"primary","dateOccurred":"2023-06-15","source":{"title":"Legislature of the United States Virgin Islands - Economic Development and Agriculture","url":"https://legvi.org/committee/economic/","publication":"legvi.org"}},{"id":13338,"text":"The V.I. government responded in court that it is not a proper party to the action and that the V.I. Code identifies the EDA as a public corporation having a legal personality separate and apart from the Government of the Virgin Islands","confidence":"primary","dateOccurred":"2021-06-15","source":{"title":"Team – USVIEDA","url":"https://usvieda.org/team/","publication":"usvieda.org"}},{"id":13337,"text":"EDA acknowledged it must comply with all laws of the U.S. Virgin Islands, including the Open Records Act, while being under obligation to protect confidential documents of all beneficiaries, according to CEO Biggs' attorney Henry C. Smock in answer to the New York Times suit","confidence":"primary","dateOccurred":"2021-06-15","source":{"title":"New York Times Sues EDA CEO Biggs for Epstein Documents | St. Thomas Source","url":"https://stthomassource.com/content/2021/09/08/new-york-times-sues-eda-ceo-biggs-for-epstein-documents/","publication":"stthomassource.com"}},{"id":13333,"text":"The New York Times filed suit against EDA CEO Wayne Biggs Jr. for failing to respond to the newspaper's public records request regarding Jeffrey Epstein-related documents","confidence":"primary","dateOccurred":"2021-06-15","source":{"title":"U.S. Virgin Islands | U.S. Economic Development Administration","url":"https://www.eda.gov/grant-resources/economic-development-directory/usvi","publication":"www.eda.gov"}},{"id":13347,"text":"Representative Stacey Plaskett served as general counsel for the Virgin Islands Economic Development Authority prior to serving in Congress, as stated in official congressional hearing records","confidence":"primary","dateOccurred":"2020-06-15","source":{"title":"Committee on Economic Development and Agriculture - Legislature of the United States Virgin Islands","url":"https://legvi.org/events/committee-on-economic-development-and-agriculture-22/","publication":"legvi.org"}},{"id":13334,"text":"Superior Court marshals acting Writs-of Execution on several individuals noted in EDA 2014 Budget Hearing Presentation document","confidence":"primary","dateOccurred":"2014-06-15","source":{"title":"U.S. Virgin Islands | U.S. Economic Development Administration","url":"https://www.eda.gov/grant-resources/economic-development-directory/usvi","publication":"www.eda.gov"}},{"id":13346,"text":"Percival E. Clouden, Chief Executive Officer of the Virgin Islands Economic Development Authority, testified before the Committee on Finance with staff members Ms. Jennifer Nugent-Hill, Assistant Chief Executive Officer and Chief Operating Officer and Mr. Ernest Halliday, Director of Administration and Finance","confidence":"primary","dateOccurred":"2013-07-26","source":{"title":"1 VIRGIN ISLANDS ECONOMIC DEVELOPMENT AUTHORITY 1","url":"https://www.usvieda.org/sites/default/files/financial_statements/2014%20Budget%20Hearing%20Presentation.pdf","publication":"www.usvieda.org"}},{"id":13339,"text":"Wayne Biggs, Jr., Executive Director, Virgin Islands Economic Development Authority delivered testimony to the Committee on Finance for the Fiscal Year 2014 Budget Hearing before the 30th Legislature of the Virgin Islands","confidence":"primary","dateOccurred":"2013-07-26","source":{"title":"Legislature of the United States Virgin Islands - Economic Development and Agriculture","url":"https://legvi.org/committee/economic/","publication":"legvi.org"}},{"id":13345,"text":"The Virgin Islands Economic Development Authority is a semi-autonomous government instrumentality created on February 1, 2001","confidence":"primary","dateOccurred":"2001-02-01","source":{"title":"Legislature of the United States Virgin Islands - Economic Development and Agriculture","url":"https://legvi.org/committee/economic/","publication":"legvi.org"}},{"id":13343,"text":"In total, Epstein received more than $300 million in tax exemptions over the 19 years between 1999 and 2018 through the Virgin Islands Economic Development Authority programs","confidence":"primary","dateOccurred":"1999-2018","source":{"title":"Legislature of the United States Virgin Islands - Economic Development and Agriculture","url":"https://legvi.org/committee/economic/","publication":"legvi.org"}},{"id":13342,"text":"Epstein's Financial Trust Company received hundreds of millions of dollars in tax incentives between 1999 and 2012 from the Virgin Islands Economic Development Authority","confidence":"primary","dateOccurred":"1999-2012","source":{"title":"Legislature of the United States Virgin Islands - Economic Development and Agriculture","url":"https://legvi.org/committee/economic/","publication":"legvi.org"}},{"id":13329,"text":"Search scope note: No sec filings found for \"Virgin Islands Economic Development Authority (EDA)\" in automated database search as of 2026-04-12. This reflects search coverage limits, not confirmed absence from public record.","confidence":"secondary","dateOccurred":null,"source":null}],"connections":[{"id":18695,"relationshipType":"oversight","description":"Bryan served concurrently as Commissioner of the Virgin Islands Department of Labor and as Chairman of the EDA Board from 2007 to 2015, the body overseeing certification of tax incentives, including those granted to Epstein's companies (~$300 million).","confidence":"primary","firstDocumented":"2007","lastDocumented":null,"other":{"id":2762,"name":"Albert Bryan Jr.","slug":"albert-bryan-jr","type":"person"}},{"id":16419,"relationshipType":"Former General Counsel","description":"Representative Stacey Plaskett served as general counsel for the Virgin Islands Economic Development Authority prior to serving in Congress, as stated in official congressional hearing records.","confidence":"primary","firstDocumented":"2001","lastDocumented":null,"other":{"id":32319,"name":"Stacey Plaskett","slug":"stacey-plaskett","type":"elected_official"}},{"id":16418,"relationshipType":"CEO/Executive Director","description":"Wayne Biggs Jr. is the Chief Executive Officer/Executive Director of the Virgin Islands Economic Development Authority (EDA). He was sued by The New York Times for failing to respond to public records requests regarding Jeffrey Epstein-related documents, issued a press release about Mac Private Equity's EDC status, and testified before the Virgin Islands Legislature on multiple occasions (FY 2014, FY 2025, FY 2026 budgets).","confidence":"primary","firstDocumented":"2014","lastDocumented":null,"other":{"id":2764,"name":"Wayne Biggs Jr.","slug":"wayne-biggs-jr","type":"person"}},{"id":9707,"relationshipType":"tax_incentive_recipient","description":"Epstein's Financial Trust Company received hundreds of millions of dollars in tax incentives between 1999 and 2012 from the Virgin Islands Economic Development Authority.","confidence":"primary","firstDocumented":"1999","lastDocumented":null,"other":{"id":563,"name":"Financial Trust Company, Inc.","slug":"financial-trust-company-inc","type":"company"}},{"id":9706,"relationshipType":"legal","description":"Information about Epstein's tax benefits from EDA was made public in 2023 as part of a lawsuit the Virgin Islands government filed against JPMorgan Chase regarding Epstein.","confidence":"primary","firstDocumented":"2023","lastDocumented":null,"other":{"id":150,"name":"JPMorgan Chase","slug":"jpmorgan-chase","type":"company"}},{"id":9705,"relationshipType":"tax_incentive_beneficiary","description":"EDA provided Epstein's Financial Trust Company hundreds of millions in tax incentives between 1999 and 2012, with total exemptions exceeding $300 million over 19 years (1999-2018). EDA refused to release information about these benefits until 2023 when disclosed in JPMorgan lawsuit.","confidence":"primary","firstDocumented":"1999","lastDocumented":null,"other":{"id":8,"name":"Jeffrey Epstein","slug":"jeffrey-epstein","type":"person"}},{"id":9702,"relationshipType":"organizational_relationship","description":"Both entities were identified as defendants in federal court case USCOURTS-ca3-15-01406 involving tax incentive businesses, and Wayne L. Biggs, Jr. serves as CEO of the Virgin Islands Economic Development Authority while providing testimony regarding USVIEDA operations","confidence":"primary","firstDocumented":"2015","lastDocumented":null,"other":{"id":2760,"name":"Virgin Islands Economic Development Commission (EDC)","slug":"virgin-islands-economic-development-commission-edc","type":"government_agency"}},{"id":17980,"relationshipType":"government_relation","description":"As USVI Attorney General, George's office was part of the Virgin Islands government structure, which includes the Economic Development Authority. Her actions regarding Epstein involved Virgin Islands entities.","confidence":"secondary","firstDocumented":"2019","lastDocumented":null,"other":{"id":2765,"name":"Denise N. George","slug":"denise-n-george","type":"person"}}],"contradictions":[],"permalink":"https://www.goblinhouse.net/entity/virgin-islands-economic-development-authority-eda","timelineUrl":"https://www.goblinhouse.net/entity/virgin-islands-economic-development-authority-eda/timeline"}