State v. Kennedy

HORTON, Judge.

In 1990, defendant Francis M. Kennedy was president and treasurer of Old Colony Group, Inc. (“Old Colony”), a Massachusetts corporation, which was in the business of arranging equipment financing. During that year, Carolina Freight Corporation (“Carolina Freight”) entered into a lease with Old Colony for the use of a mainframe computer. Pursuant to the lease, Carolina Freight forwarded the sum of $176,064.98 each month to an Illinois bank. In addition, Old Colony invoiced Carolina Freight monthly in the sums of $5,281.95 for North Carolina sales tax and $3,521.30 for county…