Bank president accused of falsifying insurance applications - Cincinnati News, FOX19-WXIX TV

Bank president accused of falsifying insurance applications

FALMOUTH, KY (FOX19) -

A bank president and her two sons are facing charges after police say she falsified insurance applications, then shared the stolen funds.

Donna Wood, 51, of Falmouth, was indicted in November for committing fraudulent insurance acts in 2008, 2009 and 2010 by falsifying insurance applications and willfully filed or made false tax returns in 2004 through 2010. During this time, she was president and CEO of United Kentucky Bank of Falmouth.

Her two sons, Richard "Tom" Wood, 32, and William Brett Wood, 28, both of Falmouth, have also been indicted for receiving stolen property for getting some of the stolen funds from their mother. They were also indicted for wilfully filing/making false tax returns from 2004 to 2010.

During the investigation, police discovered that Richard and William Wood provided multiple individuals with large amounts of money during the time frame they were receiving stolen funds from their mother.

Ricky Moore, 53, of Falmouth, was indicted on two counts of Willfully Filing/Making False Tax Returns from 2009 and 2010. Geneva Hamilton, 71, of Falmouth was indicted on one count of Willfully Failing to make a Tax Return in 2008 for the tax year of 2007. Floyd Rarrieck, 68, of Falmouth, was indicted on two counts of Willfully Failing to Make a Tax Return in 2009 for tax year 2008 and in 2010 for tax year 2009. Police say Rarrieck was obtaining controlled substances from area doctors without a practitioner/patient relationship often referred to as "doctor shopping" in Grant County. A Grant County Grand Jury indicted Rarrieck for this offense.      

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