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Fraud

Fraud

ARTICLES

Are additional Celadon execs in prosecutors’ sights?

Federal prosecutors in late April accused the Indianapolis-based trucking company Celadon Group Inc. of engineering a sweeping accounting fraud that hid losses in the tens of millions of dollars, and they announced a felony charge against one of the company’s former executives. But if the fraud was so sweeping, why did prosecutors charge just one person and spare other former top executives (at least so far)?
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Celadon ordered to pay $42 million after admitting securities fraud

Indianapolis-based trucking company Celadon Group Inc. has agreed to pay $42.2 million in restitution to settle securities fraud charges announced Thursday by the U.S. Department of Justice. Under the settlement, the company acknowledged “filing materially false and misleading statements to investors and falsifying books, records and accounts,” federal prosecutors said.
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Car-dealer promoter sued over allegedly deceptive mailers

Hoosiers were lured by the chance for prizes such as a 70-inch high-definition television, $1,000 in cash or a vacation package, according to a lawsuit filed by the Indiana Attorney General Curtis Hill’s office. But what they actually received were low-value items like an MP3 player that had been purchased for $2.25, or a mail-in rebate coupon for $10 off the purchase of a turkey.
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