Woman accused of paying own bills with company funds

IOWA CITY - The co-owner of an Iowa City tax service is facing a charge of first-degree fraudulent practices after police arrested her on suspicion of using money from her business' savings account to cover more than $22,000 in personal credit card bills.

Melissa M. Frost, 21, of North Liberty, was arrested Friday after several months of investigation into allegations she was manipulating the financial records of C&M Tax Services, according to a criminal complaint.

Frost also is accused of manipulating the business account records, which has caused the company to file inaccurate tax returns to the state and federal government, according to the complaint states.

Frost was released from the Johnson County Jail on Friday after posting a $10,000 cash-only bond, according to jail officials.