Buncombe County Business Owner Charged in State Tax Case

Raleigh, N.C. — A Buncombe County business owner was arrested Wednesday on felony tax charges filed by the North Carolina Department of Revenue.

Anthony J. Franco, 56, of 2202 Barkwood Lane in Arden, North Carolina, was charged on May 28, 2014 with six counts of Embezzlement of State Property and six counts of Embezzlement of County Property.

Arrest warrants allege that Franco, a corporate officer of Food Experience, Inc., aided and abetted the corporation to embezzle, misapply and convert to its own use $50,346.65 in North Carolina and Buncombe County sales tax during the period January 1, 2008 through April 22, 2013.  During this period of time, Franco held the position of President and was the responsible person of Food Experience, Inc., which was under a duty to collect, hold in trust, and remit sales tax to the North Carolina Department of Revenue.

Franco appeared before a Buncombe County magistrate and was placed under a $20,000 bond.   A first appearance is scheduled for June 11, 2014 in Wake County District Court in Raleigh.

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