Two former Celadon Group Inc.'s executives are facing federal fraud charges for trying to cover up that their trucking fleet had dropped in value—a scheme that caused the company to lose $62.3 million in shareholder value.
Former chief operating officer William Eric Meek and former chief financial officer Bobby Lee Peavler are accused of defrauding the trucking company’s shareholders, falsifying accounting records to hide company losses, and misleading independent auditors and regulators from June 2016 to at least April 2017. The indictment was unsealed Dec. 5, according to a Justice Department press ...
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