Former Fuwangz owner pleads guilty to embezzling nearly $80K in sales taxes
NEW HANOVER COUNTY, NC (WWAY) — A New Hanover County businessman pleaded guilty this week to embezzling nearly $80,000 in state and county sales taxes, according to the North Carolina Department of Revenue.
Marteke Latwuan Franks, 49, of Sneads Ferry, entered the plea Monday in Wake County Superior Court to five counts of embezzlement of state property.
Judge Paul Ridgeway sentenced Franks to suspended prison terms totaling up to 32 months in two separate judgments. He was placed on five years of supervised probation and must serve 15 days in the custody of the sheriff’s office, complete 75 hours of community service, and pay restitution of $79,894.22. The judgments will run concurrently unless Franks violates probation, at which point they would run consecutively.
Prosecutors said Franks, the sole member of Fuwangz, LLC, aided and abetted the business to embezzle, misapply and convert to its own use nearly $80,000 in state and New Hanover County sales taxes between May 2016 and September 2020. As the responsible party for the business, Franks was required to collect and remit sales tax to the state.
The charges stemmed from an investigation by special agents with the Department of Revenue’s Criminal Investigations Division in Raleigh. The case was prosecuted by special prosecutions attorneys in the North Carolina Attorney General’s Office.
