Mega-carrier to pay $42 million, exec charged, for fraud

613174

{"text":"One of the nation's largest trucking companies has agreed to a massive payout after more than a year-long federal investigation into the company's accounting fraud.\n\n\nIndianapolis, Indiana-based trucking company Celadon Group, Inc. has agreed to pay $42.2 million in restitution to shareholders for \"filing materially false and misleading statements to investors and falsifying books, records and accounts,\" according to an April 25 news release from the US Attorney's Office in the Southern District of Indiana.\n\n\nDanny Williams, former President of Celadon subsidiary Quality Companies LLC — a company that leased trucks to owner-operators — has also been charged with one count of conspiracy to commit securities fraud, to make false statements to a public company's accountants, and to falsify books , records and accounts of a public company in connection with the federal investigation against Celadon.\n\n\nThe plea deal comes after an investigation by the Securities and Exchange Commission (SEC) into allegations that Celadon mislead their investors by issuing false financial statements.\n\n\nAccording to court documents, the fraud charges are related to Quality's rapid inventory growth between 2013 and 2016, when they expanded from 750 tractors to more than 11,000 units.\n\n\nRead more: https://cdllife.com/2019/mega-carrier-to-pay-42-million-exec-charged-for-fraud/ ","videos":"[]","link":"{}","pics":"[]","canComment":true}

664145

{"replyTo":"","text":"Is anayboday going 2 jail like da peelot scandel?l","replyToPid":0}

621407

{"replyTo":"

664145 发表于 2019-05-05 21:16:05 PSA\n\n2 Any Celadon Drivas\n\nDoes any of U wants 2 comment?

","text":"Im waiting. LOL","replyToPid":28011}

664145

{"replyTo":"

621394 发表于 2019-05-05 21:12:36 Hopefully

","text":"PSA\n\n2 Any Celadon Drivas\n\nDoes any of U wants 2 comment?","replyToPid":28003}

621386

{"replyTo":"","text":"What company?","replyToPid":0}

679329

{"replyTo":"

621386 发表于 2019-05-05 21:06:49 What company?

","text":"CELADON","replyToPid":27989}

621394

{"replyTo":"

664145 发表于 2019-05-05 21:11:05 Is anayboday going 2 jail like da peelot scandel?l

","text":"Hopefully","replyToPid":28000}

621411

{"replyTo":"

664145 发表于 2019-05-05 21:16:05 PSA\n\n2 Any Celadon Drivas\n\nDoes any of U wants 2 comment?

","text":"Divas?","replyToPid":28011}

664145

{"replyTo":"

621407 发表于 2019-05-05 21:32:47 Im waiting. LOL

","text":"Fear of being a tattle tail & censured 4 it.\n\nFalcon 2 weex back is prettay bad.","replyToPid":28032}

664145

{"replyTo":"

621411 发表于 2019-05-05 21:36:03 Divas?

","text":"Drivers.\nA lotta these \"buzz\" words is subject 2 \"review\".","replyToPid":28041}