Arrow Trucking (Tulsa, OK)

Oh, I know they are not publicly traded, that doesn't really matter to tell the truth. Public or private corporations have been pierced in liability cases, and either way, he stole from the corporation. The corporation is an entity, just like you and I. He's going down, as are his personal assets.

There is another pretty public case against a company who leased to drivers and pretty much kept their maintenance funds when they left. I cannot remember the name, but they have been hit three times PERSONALLY. Sheriff's showed up at their houses and seized TV's, piano's, new cars, etc. This was also a privately held corporation.

Give it time. The state of Oklahoma, the Feds, and the IRS will be treating the Pigstickers like rag dolls pretty directly.

BTW, he and his mother have Bench Warrants out on them.

 

Dude still has political connections. It will be a nasty slap on the wrist!

 

there are several warrants out for both of them. he resigned thinking it would help, but its too late he did the deed he has to pay! I hope they hang him by his toes and cut off whatever hangs down

 

Racketeering, Bank Fraud, Interstate Wire Fraud...... I hope he becomes' someone's boyfriend.... BY FORCE.

From TulsaWorld:

TAB's lawsuit seeks to document a pattern of what it alleges were deceptive and fraudulent practices by Arrow executives who the bank contends were simultaneously looting the company of its assets.

In the final weeks before the company collapsed, executives at nearly insolvent Arrow allegedly submitted false invoices to the Utah bank and received $1.18 million in emergency cash infusions to stay in business, court records show.

The Utah bank alleges executives and officers of Arrow and its affiliates committed bank fraud and wire fraud that cost TAB $12.5 million.

Lawyers for TAB allege in the lawsuit that Doug Pielsticker, Chief Financial Officer Jonathan Moore and Secretary and General Counsel Joseph Mowry violated the Federal Racketeer Influenced and Corrupt Organization (RICO) Act by conducting an enterprise whose activities affected interstate commercial lending activities with TAB and other aspects of interstate commerce.

The lawsuit alleges the defendants submitted thousands of fraudulent invoice reports to TAB totaling more than $27 million, of which the bank believes more than $12.5 million were inflated.

"Arrow Trucking created an elaborate system of maintaining its books and records to perpetrate this fraud. Arrow Trucking recorded fraudulent accounts receivable invoices ending in 'A,' which it would submit to TAB to receive advances. Arrow Trucking then created invoices ending with the letter 'B' in the actual and much lesser amounts which it then billed to its customer. Arrow Trucking also altered information on its computers and created special computer programs designed to conceal the fraudulent activity," the Utah bank alleges.



Concerned since July

The Utah bank said in the suit it became concerned last July about possible irregularities in documents Arrow submitted in support of its request for payment for accounts receivable under their agreement.

In early September, TAB said in Friday's filing, it sent a financing manager to Arrow's Tulsa office who allegedly was told by Moore and Mowry that a billing clerk made errors resulting in over-billing and had been fired.

In mid-September, TAB claimed in the suit, its financing manager made a second trip to Arrow in Tulsa. The bank said its president had made an agreement with Mowry to allow the financing manager to place calls to certain customers to verify accounts receivable balances.

According to the lawsuit, Moore and the TAB manager made calls to about 30 people represented as Arrow customers. The customer phone numbers were pulled directly from Arrow's computer system, and all of the numbers were unique, TAB alleged.

The customers reached confirmed the Arrow balances, according to the TAB suit.

"TAB later learned that the phone calls were made to Arrow Trucking accomplices purporting to be Arrow Trucking customers, and that such accomplices had responded falsely to the inquiries," TAB alleges.


Salaries criticized

TAB's lawsuit also alleges that during 2009 Carol Pielsticker, Doug Pielsticker and other company executives received "extremely excessive and over-market salaries relative to their job duties."

Carol Pielsticker, the widow of former Arrow CEO Jim Pielsticker, who was killed in a plane crash on a hunting trip in Canada in October 2001, received money and property that at times averaged $10,000 per week, the bank alleges.

"During 2009, Defendant Doug Pielsticker purchased or caused to be purchased, directly or beneficially, a new Maserati, a Bentley and Land Rover vehicles, an expensive car stereo system, a Cessna Citation airplane, personal expenses at Southern Hills Country Club with Arrow Trucking funds and otherwise systematically looted Arrow Trucking with unwarranted expense reimbursements, excessive salaries and benefits and other payments to support his lavish lifestyle," the Utah bank alleges in its lawsuit.

Transportation Alliance Bank asks the court for $12.5 million, which it asks to be doubled or tripled for punitive damages; an award of punitive damages personally against Carol and Doug Pielsticker; a judgment of $749,000 against Arrow affiliate Megan Corp.; the title of real estate offered as collateral by Arrow Truck Real Estate Co.; and attorneys fees and costs.

In the other lawsuit, more than 28 Arrow employees, who are seeking class-action status, allege Arrow violated the Worker Adjustment and Retraining Notification Act by suspending operations and terminating them Dec. 21 without 60 days' prior notice, as required by the WARN Act.

The employees are seeking wages and benefits for 60 days, damages, medical insurance premiums and reimbursement for work performed prior to the shutdown of the company.

 

Real nice, Dougie. I hope your new jailhouse boyfriend is NOT gentle with you the first time.


The lawsuit also claims that Carol Pielsticker, Arrow's chairwoman, was paid an average of $10,000 a week during 2009. And that her son and company owner, Doug Pielsticker, received a $20,000 check from Arrow the week before the company shut down and let go all of its employees.

 

I dont think so. Read the above. This guy is going to go down hard. This is more than his political connections can get him out of. As far as his "connections", this ###-clown is a small time player. They are going to make an example out of him. I wonder how long he'll keep his virginity in jail?

 

I'm sitting here shaking my head. What a family this Pielsticker 'crowd' turned out to be after 'dad' died. Thinking the more we know the more we'll shake our head in disbelief.

 

I think the Feds will make an example out of him and so they should. Like I said before, I completed a lease purchase with Arrow in 2008, I never had any problems. At the end of the lease I had to pay an $800.00 balloon payment and the truck was mine and all monies that were owed to me were paid. Of course, I never had to deal with Dougie personally, most of the fleet managers, planners and other office people were some of the best people I have met. To bad Dougie didn't die in the plane crash instead of dad.

 

That would be really cool, considering what this waste of breath has done to hurt so many...but seriously, he'll make a deal and end up in a minimum or medium security federal prison with other white collar criminals. He won't be anywhere near the kind of people who would break his butt-cherry for looking at them funny.

It's nice to wish, though...maybe someone knows someone who works in the office where they make prison assignments...a "clerical error" could "accidentally" end him up in a U.S. Penitentiary where someone would make him their "pet"...lol

 

A guy I went to high school with did 18 months for smuggling a boat load of pot. He was in a "prison" with no fence. Gordon Liddy was down the hall from him. Basket weaving and golf.

Did I mention he had a well connected lawyer?