Racetrack co-owner surrenders - WALB.com, Albany News, Weather, Sports

Racetrack co-owner surrenders

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Dick Perryman (right) stands with an official from the Georgia Department of Revenue (left) as a padlock is placed on the gate at the entrance to the track Dick Perryman (right) stands with an official from the Georgia Department of Revenue (left) as a padlock is placed on the gate at the entrance to the track
CECIL, GA (WALB) -

Georgia Department of revenue officials padlocked the entrance to the South Georgia Motorsports Park in Cecil Monday after a second day of investigating Kimberly Wood. She's accused of failing to report sales tax revenues properly.

 Kimberly Wood bonded out on a $11,200 property bond, and was released at 4:30 p.m. Monday. 

Cook County Superior Court designated Albany Attorney Chris Cohilas as the court appointed receiver for the business and he is now in charge of operations there.

"Essentially, the court appointed me to take over control of the business while there's litigation that's ongoing between the state and the defendant," Cohilas explained. "There's been an allegation that certain taxes have not been paid to the department of revenue."

Kimberly Wood turned herself in at the Cook County Sheriff's Office around 2 p.m. Monday afternoon and is charged with one count of felony theft by taking-sales and one count of felony theft by taking-withholding.

Revenue officials said she failed to turn over at least $90,000 in sales tax revenue to the state, but they're investigating the track's financial records from the last seven years and believe that amount could go up.

Despite the ongoing investigation, the track will be open for the races over Labor Day weekend.

"We're still working out some of the kinks, obviously this is a very fluid process. But, we are gonna be open this next weekend. There is a big race that is expected on Labor Day weekend," said Cohilas.

A civil action lawsuit was filed in Cook County Superior Court Monday morning by district attorney Dick Perryman against Wood and her husband Rowland Wood Jr., but as of Monday night Kimberly Wood was the only one facing charges.

The track's sales tax license was suspended at the beginning of August, making it illegal for the track to continue doing business after that point. Revenue officials said they made repeated attempts over the past two years to meet with Kimberly Wood and resolve this issue, but they said she refused to work with them.

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