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Former assisted living CFO in NC pleads guilty

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RALEIGH, N.C. (AP) - The former chief financial officer of a chain of assisted living facilities in North Carolina has pleaded guilty to conspiring to defraud the Internal Revenue Service.

The U.S. Justice Department says in a news release that Michael R. Elliott pleaded guilty Wednesday in Wilmington after being indicted in November by a grand jury sitting in Raleigh. He was the CFO for Caremerica Inc., based in Leland.

The Justice Department says Caremerica companies accrued more than $4.5 million in employment tax liabilities between 2003 and 2006.

Sentencing is set for the court term beginning Nov. 5.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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