Former Celadon execs to pay $50,000 to settle accounting fraud case

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2 thoughts on “Former Celadon execs to pay $50,000 to settle accounting fraud case

  1. WTH – only a $50,000 fine??? It was fraud, that “(hid) tens of millions of dollars in losses attributed to a significant decline in the value of its trucks…. (then) a few days later, Celadon filed for Chapter 11 bankruptcy and ceased operations, a move that wiped out about 4,000 jobs.”

    AND “Meek and Peavler had also faced a parallel **criminal** fraud case filed on the same day as the SEC’s complaint. Meek faced 10 charges in that case and Peavler faced 12. **In an unusual development**, all charges in the criminal case were dropped (!!) at prosecutors’ request in August.”

    And the former President, Danny Williams, walked with “time served” – wonder how long that was?

    Would someone with info on this case please explain. Perhaps the IBJ storywriter, Susan Orr, can dig just a bit and answer the obvious questions about how the heck these guys got off unscathed?

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