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Celadon to pay $42 million for accounting fraud
Trucking company admits hiding losses in aging trucking fleet; lied to investigators.
Michael Catarevas | Apr 25, 2019
Celadon Group Inc.(Celadon) has agreed to pay total restitution of $42.2 million for filing materially false and misleading statements to investors and falsifying books, records and accounts.
Celadon, headquartered in Indianapolis, IN, entered into a deferred prosecution agreement (DPA) in connection with a criminal information filed Thursday, April 25, in the Southern District of Indiana charging the company with securities fraud. The case was primarily focused on the fact that Celadon knowingly filed materially false and misleading statements to investors and falsified books, records and accounts with regard to the values of assets involved in four trade transactions that were recorded at inflated values and not fair market value.
Celeron to pay $42 million...
Trucking company admits hiding losses in aging trucking fleet; lied to investigators.
Michael Catarevas | Apr 25, 2019
Celadon Group Inc.(Celadon) has agreed to pay total restitution of $42.2 million for filing materially false and misleading statements to investors and falsifying books, records and accounts.
Celadon, headquartered in Indianapolis, IN, entered into a deferred prosecution agreement (DPA) in connection with a criminal information filed Thursday, April 25, in the Southern District of Indiana charging the company with securities fraud. The case was primarily focused on the fact that Celadon knowingly filed materially false and misleading statements to investors and falsified books, records and accounts with regard to the values of assets involved in four trade transactions that were recorded at inflated values and not fair market value.
Celeron to pay $42 million...
