Kinston Accountant Pleads Guilty to State Tax Charges

Date: 1/23/2004

RALEIGH – A Kinston certified public accountant pleaded guilty Thursday to misdemeanor charges filed by the North Carolina Department of Revenue.

Lloyd Council Folks, 58, of 214 East Fire Tower Road, Greenville, entered guilty pleas on Jan. 22, 2004 to four counts of failure to file North Carolina individual income tax returns.

The state's evidence showed that at the time of the offenses, Folks was a certified public accountant practicing in Kinston. During the tax years 1998, 1999, 2000 and 2001, Folks earned sufficient income requiring him to file North Carolina individual income tax returns, but failed to do so. Before appearing in court, Folks filed the delinquent returns and paid the tax due to the North Carolina Department of Revenue.

District Court Judge Kristin H. Ruth consolidated the charges and sentenced Folks to 45 days in the Wake County Jail. The sentence was suspended and he was placed on unsupervised probation for 24 months. He was ordered to perform 100 hours of community service in the first 12 months of probation, pay a $1,000 criminal fine and court costs.

The charges resulted from an investigation by the North Carolina Department of Revenue's Criminal Investigations Division.

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