(a) A tax incentive benefit certificate granted in accordance with this subchapter may be revoked, suspended or modified by the Board, after notice, public hearing, and written findings by the Board that:
(1) The beneficiary has failed to maintain compliance with the requirements of this chapter or any regulation hereunder;
(2) Upon a finding submitted to the Board by the Lieutenant Governor or the Attorney General of the Virgin Islands that the international financial services entity:
(A) has been dissolved; or
(B) has filed, or there has been filed against the corporation, a petition in bankruptcy which has been approved; or
(3) The beneficiary has failed to file an annual report as required by this chapter; or
(4) An officer, shareholder or director acting on behalf of the international financial services entity has been convicted of a felony connected with the operation of the beneficiary’s business or industry; or
(5) An officer, shareholder or director acting on behalf of the international financial services entity has given or offered, or caused to be given or offered a bribe, or any money, property, or value of any kind or any promise or agreement therefore to a public officer, or to a person executing any of the functions of a public office, or to a person elected, appointed or designated to thereafter execute the same, with intent to influence him with respect to any act, decision, vote, opinion, or other proceeding in the exercise of the powers or functions which he has or may have pertaining in any way to the tax incentive benefit program.
(b) In addition to the fine and imprisonment provided in 14 V.I.C. § 406 for this offense, any benefit granted or obtained as a result of an act, decision, vote, opinion or other proceeding under subsection (a)(5) is void as to the briber and recoverable from the briber as the circumstances of the particular case dictates.