Celadon closing up shop!
Discussion in 'Truckers News' started by drvrtech77, Dec 7, 2019.
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The SEC civil complaint and criminal charges were filed against former President William Meek, 39, and former Chief Financial Officer Bobby Peavler, 40, who were indicted Dec. 5 for their alleged role in a complex securities and accounting scheme.
Meek
The former Celadon executives were charged with one count each of conspiracy to commit wire fraud, bank fraud and securities fraud; five counts of wire fraud; two counts of securities fraud; one count of conspiracy to make false statements to a public company’s accountants and to falsify books, records and accounts of a public company; and one count of making false statements to a public company’s accountants.
Peavler was charged with two additional counts of making false statements to a public company’s accountants, according to the indictment.
The detailed SEC civil complaint alleges that the men attempted to conceal losses by engaging in the scheme to buy and sell trucks at inflated prices — in some cases double or triple their fair market value.
Can you imagine this hump in Marion Federal Pen?Jarhed1964, homeskillet, Lonesome and 4 others Thank this. -
Jarhed1964, drvrtech77 and bigblue19 Thank this.
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But I believe Marion is maximum security. They're just gonna send these turds to some "Wall Street Boot Camp Diversion Program."Jarhed1964, Grumppy and bigblue19 Thank this. -
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He probably has "sissy hands", too......Jarhed1964 and Lonesome Thank this. -
It looks to me this happened the only way it could. Seems they are shooting straight trying to get driver's home and last loads delivered.
Ships sink all the time, it's why it's so important to watch the one your on. Bankruptcy is distasteful by nature. From everything I read they are looking out for their driver's the best they can. Much better than some of the other dirt bag companies have done in recent memory.
On a more sobering note, if the lack of 300 dollars leaves anyone stranded, then they are just as bankrupt as the company they worked for. A change could do them good.BigBluePeter, Roberts450, BoostedTeg and 6 others Thank this.
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