NEWS RELEASE

SOUTH CAROLINA DEPARTMENT OF REVENUE

Public Affairs Office                  Phone (803) 898-5464

Contact: Danny Brazell                Fax   (803) 898-5446

                                              Email: brazeld@sctax.org

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FOR IMMEDIATE RELEASE

June 6, 2003

Second Horry County timeshare businessman arrested on tax charges

      South Carolina Department of Revenue investigators today arrested a self-employed Myrtle Beach timeshare salesman on tax evasion charges. It was the second arrest of an Horry County timeshare businessman on tax evasion charges in less than two weeks.

      Gerry P. Hunt, 43, a Myrtle Beach resident, is being held at the J. Reuben Long Detention Center pending a bond hearing later today. Hunt is charged with three counts of state income tax evasion. On May 28, Department of Revenue investigators arrested timeshare project director Nigel K. Russell of Myrtle Beach on tax evasion charges in an unrelated case.

      Hunt is accused of failing to file and pay state income tax returns from 1999 through 2001. The Department of Revenue investigation showed Hunt had gross income of $304,101 during that period and his estimated tax liability is $4,175.

      Hunt is facing up to 15 years in prison and fines of up to $30,000 if convicted of all the charges.

      The Horry County Sheriff's Office assisted the Department of Revenue in Hunt's arrest.

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