Guilford County Business Woman Charged in State Tax Case

RALEIGH – A Guilford County business owner was arrested Thursday on felony tax charges filed by the North Carolina Department of Revenue.

Elizabeth L. Wood, 34, of 2415 Glen Meadow Drive in Greensboro, North Carolina, was charged on July 17, 2014 with three counts of Embezzlement of State Property.

Arrest warrants allege that 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 person of Wood Executive Services, Inc., which was under a duty to collect, hold in trust, and remit North Carolina Withholding Tax to the North Carolina Department of Revenue.

Wood appeared before a Guilford County magistrate and was placed under a $175,000 bond. A first appearance is scheduled for August 20, 2014 in Wake County District Court in Raleigh.

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