Wood Construction owner pleads guilty to wire fraud

GREENEVILLE, Tenn. (WJHL) — Leighton “Joe” Wood appeared in federal court Wednesday and pled guilty to wire fraud, admitting his involvement in conspiracies to commit fraud and that there was an intent to defraud.

Wood, the former owner of Wood Construction, is accused of taking money from dozens of homeowners in multiple states in 2020 and 2021. He is alleged to have deceptively advertised the services of his company, collected deposits and follow-up payments, and not completing the work.

The former Tri-Cities businessman faces 10 months in prison and restitution payments of almost $1.2 million to former customers.

Wood’s legal counsel, Lynnette Byrd, provided a comment on her client’s behalf.

“We just wanted to renew his ongoing commitment to cooperate with both state and federal law enforcement authorities,” Byrd said. “He entered a plea of guilty and is accepting his role in the harm that was caused to many consumers by his former business.”

Byrd said her client is “looking forward to his plans to make restitution to the victims.”

The court was informed Wednesday that the restitution amount is subject to change.

Legal representatives for the federal government said six additional victims have been discovered and some customers have already received their money back. The amount is now at $1,329,021.23.

Wood was not very talkative, only speaking to the judge when spoken to.

The question of Wood being a flight risk came up in conversation. Originally, the judge asked for Wood to turn in items like his firearms and his passport, limiting his traveling to North and South Carolina and East Tennessee for court appearances.

Then, Byrd told the judge about a pre-planned cruise Wood has in September for an entrepreneur summit, a networking opportunity. Wood is a business owner in North Carolina. Byrd also mentioned Wood has cooperated with law enforcement for two years.

Through more discussion, the judge decided Wood to not be a flight risk and to turn in his passport within 72 hours after the cruise.

Wood has up to 30 days before his sentencing hearing to pay the restitution. News Channel 11 previously reported that a family member has said they would pay the restitution. If not paid, Wood faces a maximum of 20 years in prison, along with possibly millions more in fines, probation time, and an assessment.

Wood’s sentencing hearing for this plea is Nov. 14. The judge set an unsecured bond of $20,000 if Wood fails to appear in court.

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