Well, another trucking company owner has proved himself to be more than a little crooked. This time it’s a man who’s been convicted of two counts of bank fraud and one count of embezzlement – for taking money from his employee’s retirement fund.
George L. Wintz, Jr. is the owner of Triangle Warehouse Inc., McCallum Transfer Inc. and Cue Properties LLC. This is no small-time operation either. He participated in a check-kiting scheme in addition to taking 5 fraudulent loans totaling over $1.9 million. Check-kiting is an illegal practice which inflates the amount of money someone appears to have in an account by writing a bad check from a different account and using the time before the check clears to write another check. The initial transfer prevents the second check (usually paid to an unknowing victim) from bouncing until one of the banks figures out what happened.
This usually gets found out fairly quickly… unless of course, someone at the bank is in on it. John A. Markert, the president of Pinehurst Bank, was found guilty on five counts of misapplying funds for his role in approving the loans.
Apparently, this is not the first time Wintz has been in hot water. According to a Star Tribune article written in June by Jennifer Bjorhus, Wintz has been involved in various legal scrapes over the years. The article states, “In the mid-1990s, a Roseville trucking company was fined $1.2 million for not paying workers compensation premiums, a fine a judge eventually reduced. Another company was forced into bankruptcy by Teamsters funds.”
So Wintz, a repeat offender, stole $1.9 million, siphoned money from his employee retirement fund, and due to his actions, a local bank was closed down and put out of business. So go ahead and guess what his punishment is before you read any further. How much jail time does he deserve? Got a number?
How does 42 months sound? How many months do you think you’d get if you stole $1.9 million in freight?
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Sources: landline, star tribune
marco says
42 months??? HUH
denise says
You know there is many things that can be said but it just comes back down to if you’re a honest person you’re broke, but you can sleep at night and it doesn’t hurt to look at your self in the mirror.
Sam says
How does 42 months sound? How many months do you think you’d get if you stole $1.9 million in freight?
Here you can see the clear difference between Blue collar v.s. White collar crime.
It’s not fair, but it’s a reality.