Guilford County Businesswomen Pleads Guilty in State Tax Case

Raleigh

RALEIGH – A Greensboro businesswoman was sentenced Monday, after pleading guilty last Wednesday in Wake County Superior Court to felony charges filed by the North Carolina Department of Revenue.

Elizabeth L. Wood, 35, of 2415 Glen Meadow Drive, Greensboro was sentenced on June 15, 2015 after pleading guilty to three counts of Embezzlement of State Property.

Superior Court Judge Paul Gessner sentenced Wood to a 13-month minimum, 25-month maximum prison term.  The sentence was suspended for a period of 60 months of supervised special probation.  As a condition of special probation, Wood was ordered to be imprisoned for four months in the Wake County Detention Center.  Wood was immediately remanded to the custody of the Wake County Sheriff’s Office.  Upon release, Wood will be placed on supervised probation for the remainder of 60 months.  Wood was also ordered to pay restitution of $214,074.80, perform 100 hours of community service and pay a $20,000 fine.

Information presented in court showed Wood, a corporate officer of Wood Executive Services, Inc., aided and abetted the corporation to embezzle, misapply and convert to its own use $214,074.80 in state withholding tax during the period January 1, 2012 through April 2, 2014.  During this period of time, Wood held the position of president and was the responsible officer of Wood Executive Services, Inc., which was under a duty to collect, hold in trust, and remit North Carolina State Taxes to the North Carolina Department of Revenue.

The charges against Wood resulted from an investigation by a special agent with the Department’s Criminal Investigations Section in Raleigh.

 


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