Mike
Well-Known Member
After more than four years in prison, the former CEO of Arrow Trucking is being allowed to serve the remainder of his sentence in home confinement.
Pielsticker is serving a 7½- year sentence on fraud and income tax evasion charges for his role in the 2009 collapse of Arrow Trucking. Pielsticker conspired with former chief financial officer Jonathan Moore to defraud the Transportation Alliance Bank out of nearly $11 million dollars in an invoice-inflating scheme.
The resulting collapse of the company just three days before Christmas in 2009 left hundreds of drivers stranded with no working fuel cards, no paychecks and no way to get home.
Court records indicated that in 2009, Pielsticker received hundreds of thousands of dollars from the company accounts to pay for personal expenses, including his wedding and payments on luxury cars.
The Tulsa World report states that Pielsticker requested to be released from prison or to home confinement in April due to health reasons, citing the COVID-19 pandemic.
Pielsticker is serving a 7½- year sentence on fraud and income tax evasion charges for his role in the 2009 collapse of Arrow Trucking. Pielsticker conspired with former chief financial officer Jonathan Moore to defraud the Transportation Alliance Bank out of nearly $11 million dollars in an invoice-inflating scheme.
The resulting collapse of the company just three days before Christmas in 2009 left hundreds of drivers stranded with no working fuel cards, no paychecks and no way to get home.
Court records indicated that in 2009, Pielsticker received hundreds of thousands of dollars from the company accounts to pay for personal expenses, including his wedding and payments on luxury cars.
The Tulsa World report states that Pielsticker requested to be released from prison or to home confinement in April due to health reasons, citing the COVID-19 pandemic.
Ex Arrow Trucking CEO Pielsticker gets home confinement due to COVID-19
Former Arrow Trucking CEO James Douglas Pielsticker will finish the remainder of his prison sentence for fraud charges on house arrest due to COVID-19.
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