A Rocky Mount woman and CEO of a Raleigh company was arrested Wednesday for failing to pay insurance premiums for employees.

Rebecca Horne Wood, 36, was charged with one count each of failing to pay premiums deducted from employee pay and failing to notify employees of insurance cancellation. She was issued a $5,000 unsecured bond.

According to a press release, N.C. Department of Insurance investigators allege that while Wood was the CEO and president of Alpha/Omega Health Care in Raleigh, she collected insurance premiums from her employees but did not forward those funds to the health care provider, resulting in the termination of her employees’ health insurance coverage. The incidents allegedly occurred between Nov. 30, 2009, and Feb. 28, 2010.