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11-24-2011, 06:35 AM
FALMOUTH - Some of the $2.2 million Donna J. Wood stole from the defunct United Kentucky Bank of Pendleton County while she served as its president went to support her sons' drug additions, according to state indictments.
Richard "Tom" Wood, 32, and William Brett Wood, 28, both of Falmouth, were each indicted last week by a Pendleton County grand jury on one count of receiving stolen property of more than $10,000 and one count of receiving stolen property of under $10,000. State police claim the two sons accepted money from their mother that they knew was stolen.
The two sons and their mother were also charged in state court with seven counts failing to report the stolen income on their state tax returns. Investigators said the false returns were filed from 2004 through 2010.
Donna Wood, 51, also of Falmouth, faces additional state charges of falsifying bank insurance applications from 2008 through 2010.
The stolen money was used to cover personal checks the sons were writing to pay for illegal drugs, according to court records. Investigators tracked the checks to Ricky Moore, 53; Geneva Hamilton, 71; and Floyd Rarrieck, 68; all of Falmouth. Each of them has been charged with multiple counts of not reporting the cashed checks as income on their state tax returns.
"Everyone involved in this was pretty bold," said lawyer Jim Crawford, who is trying to recover the stolen money on behalf of the bank. "I have been doing this for a long time, but I had never heard of dope dealers accepting personal checks."
Donna Wood has already pleaded guilty in U.S. District Court to an embezzlement charge relating to the theft. The $2.2 million she admitted to stealing was about 9 percent of the bank's assets over eight years. U.S. District Judge Danny Reeves will sentence Donna Wood on the federal charge next month. She faces a maximum penalty of 30 years in prison, and prosecutors are seeking restitution.
http://nky.cincinnati.com/article/AB/201...|FRONTPAGE
Richard "Tom" Wood, 32, and William Brett Wood, 28, both of Falmouth, were each indicted last week by a Pendleton County grand jury on one count of receiving stolen property of more than $10,000 and one count of receiving stolen property of under $10,000. State police claim the two sons accepted money from their mother that they knew was stolen.
The two sons and their mother were also charged in state court with seven counts failing to report the stolen income on their state tax returns. Investigators said the false returns were filed from 2004 through 2010.
Donna Wood, 51, also of Falmouth, faces additional state charges of falsifying bank insurance applications from 2008 through 2010.
The stolen money was used to cover personal checks the sons were writing to pay for illegal drugs, according to court records. Investigators tracked the checks to Ricky Moore, 53; Geneva Hamilton, 71; and Floyd Rarrieck, 68; all of Falmouth. Each of them has been charged with multiple counts of not reporting the cashed checks as income on their state tax returns.
"Everyone involved in this was pretty bold," said lawyer Jim Crawford, who is trying to recover the stolen money on behalf of the bank. "I have been doing this for a long time, but I had never heard of dope dealers accepting personal checks."
Donna Wood has already pleaded guilty in U.S. District Court to an embezzlement charge relating to the theft. The $2.2 million she admitted to stealing was about 9 percent of the bank's assets over eight years. U.S. District Judge Danny Reeves will sentence Donna Wood on the federal charge next month. She faces a maximum penalty of 30 years in prison, and prosecutors are seeking restitution.
http://nky.cincinnati.com/article/AB/201...|FRONTPAGE
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