Forsyth County Businessman Convicted of State Tax Charges
RALEIGH – A Kernersville businessman pleaded guilty today in
Wake County Superior Court to felony charges filed by the North Carolina
Department of Revenue.
James Stanley Hedgecock, 59, of 8857 Boylston Road, Colfax, pleaded
guilty to two counts of aiding and abetting Hedgecock Lumber Company
to embezzle Forsyth and Guilford County sales taxes, and one count
of aiding and abetting the embezzlement of state sales taxes. The
offenses occurred from Aug. 1, 2001 to April 30, 2003 while Hedgecock
was president of Hedgecock Lumber Company in Kernersville.
The state’s evidence showed that Hedgecock collected $162,181.12
in state and county sales taxes that were not remitted to the Department
of Revenue. He also admitted that he withheld $13,520 in state income
taxes from his employees’ wages that were not remitted. Hedgecock's
attorney stated that Hedgecock has been involved in a legal dispute
with his family over his father's estate and had used the sales and
withholding taxes to fund legal expenses.
Wake County Superior Court Judge J. B. Allen, Jr. sentenced Hedgecock
to a 48-month minimum, 60-month maximum prison term. The sentence
was suspended on the conditions that he serve a 10-day active prison
term and be placed on supervised probation for 36 months following
his incarceration. Hedgecock was also ordered to pay a $10,000 criminal
fine and to perform 120 hours of community service during the first
six months of his probation. He was further ordered to pay restitution
to the Department of Revenue.
The charges against Hedgecock resulted from an investigation by a
special agent with the Department of Revenue's Criminal Investigation
Division in cooperation with the Winston-Salem Department of Revenue
Public Affairs Office
P.O. Box 25000, Raleigh, NC 27640-0001
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Last modified on:
10/31/07 03:44:06 PM.