Grand jury indicted Derek Lamar Wood on 42 felony counts of tax evasion

The Special Investigations Section of the Tennessee Department of Revenue conducted an investigation that led to the indictment and arrest of Derek Lamar Wood, age 51, in Jackson Thursday.

On Feb. 26, 2024, a Madison County grand jury indicted Wood on 42 felony counts of tax evasion related to the filing of false sales tax returns at T&D’s Corner Stop.

Wood is the owner of the business.

“Most businesses in Tennessee remit the tax dollars they collect from customers,” said Revenue Commissioner David Gerregano.  “This indictment should serve as a warning to those that believe they can get away with tax fraud. Our department remains committed to prosecuting tax evaders to ensure a level playing field for all businesses.”

If convicted, Wood could be sentenced to a maximum three years in the penitentiary and fined up to $3,000 for each tax charge. The department is pursuing the criminal case in cooperation with District Attorney Jody Picken’s office.

Image by wirestock on Freepik.

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Ron Moses is the managing editor of the Upper Cumberland Business Journal and can be reached via email. Send an email.

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