Wood Construction files for bankruptcy

Former Johnson City contractor Wood Construction, alleged to have cheated dozens of homeowners out of millions of dollars, has filed for bankruptcy. That could possibly diminish the prospects of any monetary recovery for the victims. Leighton “Joe” Wood and his wife, Cameron Wood, list assets of almost 1 million and liabilities totaling more than $2.5 million in a filing on Oct. 21 in South Carolina Bankruptcy Court. The bankruptcy filing came two months after the Tennessee Attorney General filed a civil suit on behalf of dozens of victims who lost millions. The AG’s office accuses Wood Construction of taking payments for work that was never started, or left uncompleted.