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Freight Company Executive’s Accounting Fraud Conviction Affirmed

Sept. 7, 2022, 7:13 PM

Prosecutors presented enough evidence of former Roadrunner Transportation Systems Inc. CFO Peter Armbruster’s knowledge of accounting misstatements to support a jury’s verdict convicting him of four counts of accounting and securities fraud, the Seventh Circuit ruled Wednesday.

The evidence included testimony by Armbruster’s colleagues about a meeting he attended in which executives listed various accounting challenges—complete with a photo of the whiteboard they used, Judge Michael Y. Scudder Jr. said for the appeals court.

One executive testified she worried about the chief financial officer kicking the can down the road, and the government presented emails informing him of two central ...