The former CEO of Arrow Trucking, Doug Pielsticker, has pled guilty to charges of federal tax evasion and conspiracy to commit fraud. Together the charges carry a maximum sentence of 10 years in prison and a fine of up to $500,000, but according to the plea agreement, Pielsticker could face an alternate fine of up to $50 million.
EDITOR’S NOTE: Some sources are reporting that the fine could only reach $25 million, while others are reporting the full $50 million. The reason for the confusion appears to be that the fine could possibly be double the gross amount of losses sustained by the victims, but due to unclear wording, it’s not certain whether $25.6 million is the gross amount, or the gross amount doubled.
Pielsticker was the head of Arrow Trucking in 2009 when just days before Christmas Eve, the company shut its doors without warning, leaving drivers stranded all across the country. The company’s troubles stemmed in large part from bank fraud that Pielsticker allegedly knew about (though claims he wasn’t the “ringleader” of). Pielsticker also spent thousands of dollars of the company’s money on his own personal expenses, buying himself a Bentley, and Maserati, and using company money to pay for his own wedding.
Although Pielsticker was originally charged with 23 different crimes back in December of 2014, the number of charges was reduced to 2 as part of the plea deal. According to U.S. Attorney Danny Williams, however, Pielsticker could still be facing the same amount of jail time with just these two charges. Williams will be recommending a sentence of at least six years in federal prison.
Pielsticker is scheduled to be sentenced on March 12th.
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Source: kjrh, ttnews, overdrive, truckinginfo, newson6, newsok, fox23
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11 comments. Add a comment.
I hope they make him the queen of the prison ball
So glad I quit when I did. Started driving for another company shortly before they shut down and helped get some of the stranded drivers home. It was all downhill after the mister passed away. Greedy kids!
So what happens if he can’t, or won’t, pay the fine? Would that be considered ‘Contempt of Court’ and his sentence extended or maybe be tried again for that crime?
Nothing really. The fine will accrue interest and at best liens will be placed on his assets. That will only prevent him from selling the assets without satisfying the liens. In all actuality, he could die without ever paying anything. His heirs will then have to satisfy the liens if they wish to possess the assets.
You can’t be tried twice for the same crime. So the attorney general would charge him with something else
while he’s in prison they will take up to $250 max per quarter (every 3 months) and after that only whatever he wants to pay. He will actually never pay the fine. I know someone who had alost the exact same situation as and it’s been 5 years. He’s paid less than 5k in 5 years.
Sucks to be CEO of the Titanic. He isnt the exception if thats whacher’ thinkin’. If uncle took them all down at once it would plunge the USA into a catastrophe.
… because you feel the USA can’t survive without criminals bankrupting our transportation industry? If they don’t starting taking them all down, all the big carriers will fail.
If is only a matter of time before truckers organize to fight back against the unfair and illegal practices of he trucking mob and shut the transportation industry down. At that point, all you have is your choice of two mobs… It would be better if we all played by the rules.
You have no idea how the large ltl company violate the law, example any load going too or coming from rail,or ocean ports is not considered interstate commerce land should be paid according time and a half. Also if the carrier know it’s going there from the terminal it’s transport in is supposed to be under the same wage standard. Being on call if it prevents you from performance of your normal daily activities that you do on your off time. Is supposed to be compensated by law. Any supervision is supposed to get overtime after 40. The interstate commerce clause only includes drivers,drivers helpers,mechanics,and people related to the safety of equipment. Not the loading of equipment.
David K says
The world these days is full of and run by nothing more than crooks, criminals and scumbags of all kinds, shapes, sizes and colors!
Let ‘The End’ begin!
Wonder if he’s going to try to pay that in coke bags?