ARROW TRUCKING GOES FACE DOWN!

[happymomof2]

Yes Doug had a Bentley, and the company was his personal piggy bank....

[custosnox]

I'm from a family of truckers, and my father had driven for Arrow in the past.  He left there shortly after the previous owner died and things started going downhill.  He got out of OTR trucking a few years ago since he was starting to loose money and has stuck to driving the oil fields of New Mexico since then.  I've watched Arrow flounder ever since then from the sidelines as a minor point of interest since it only lightly effected my family.  Those in the family that pushed through the hard times, like my step-father, have had hard times.  We have had one trucking business in the family go under, but I personally think that was more poor administrations then the economy.  While the industry is starting to pick up again, it has by no means recovered.  Trucks no longer sit for weeks without loads, but they will sit for days, and that hurts.  However, a poor economy is only partially to blame for what has happened at Arrow.  From everything that I have picked up on in the past few years, the heirs of the company have ran it into the ground with very poor oversight and little knowledge of the industry.

[Hoss]

I hate bumping a topic this old, but it's relevant.

http://www.newson6.com/story/27553238/former-arrow-trucking-ceo-arrested-in-dallas

[DolfanBob]

I hate bumping a topic this old, but it's relevant.

http://www.newson6.com/story/27553238/former-arrow-trucking-ceo-arrested-in-dallas

Read the comments. Seems to a lot of people here locally that it's relevant. Wonder if that's pretty boy's mug shot? He seems happy. Sorry bout the loss of his Mansion. 

[Hoss]

Read the comments. Seems to a lot of people here locally that it's relevant. Wonder if that's pretty boy's mug shot? He seems happy. Sorry bout the loss of his Mansion. 

Not his mug shot.  That's an old photo.

[Breadburner]

His mansion was bulldozed......

[Conan71]

Not his mug shot.  That's an old photo.

I'm sure he's a big hit with the thugs in Dallas County.  One can hope he's already been face down a few times.

[carltonplace]

I'm sure he's a big hit with the thugs in Dallas County.  One can hope he's already been face down a few times.

I see what you did there

[DolfanBob]

I see what you did there

If you watch Sons of Anarchy you really would know what he means there. 

[Townsend]

http://publicradiotulsa.org/post/former-arrow-ceo-be-arraigned

At the time the business closed, the bankruptcy attorney estimated liabilities of nearly $100-million. However, assets only totaled $8 1/2 million.

It has been alleged that Pielsticker looted the company to buy a vacation home, air plane and other luxury items.

[dbacksfan 2.0]

I'm sure he's a big hit with the thugs in Dallas County.  One can hope he's already been face down a few times.

Trying out for Ned Beatty's role in a remake of "Deliverance"?

[Conan71]

Trying out for Ned Beatty's role in a remake of "Deliverance"?

He's got some mighty purty teeth.

[DTowner]

From the updated TWorld story:

Records show that Moore, the company's former chief financial officer, signed a plea agreement with federal prosecutors in October that names Pielsticker as part of an alleged $24 million financial conspiracy.

Moore states in his plea agreement that he, Pielsticker and other co-conspirators conspired to defraud the Internal Revenue Service and Transportation Alliance Bank.

"As part of the conspiracy, payroll taxes were withheld from employees' wages but no taxes were paid or turned over to the Internal Revenue Service as required by law," Moore's plea agreement states.

"As part of the conspiracy, funds from Arrow Trucking were diverted from the company, in part, to pay for the personal expenses of James Douglas Pielsticker and others."

Moore's agreement states that he and Pielsticker "caused Arrow Trucking Company to submit fraudulent invoices to Transportation Alliance Bank to induce the bank to pay funds to Arrow Trucking Company that were not warranted."

His agreement states that the loss to the IRS totaled more than $9 million while Transportation Alliance Bank's loss totaled more than $15 million. The agreement is contingent upon Moore's continued cooperation in the case.

Though the agreement was signed by Moore on Oct. 8, it was signed by the U.S. attorney's office for the Northern District of Oklahoma on Thursday, records show.

[Townsend]

Former Arrow Chief Headed to Prison

http://publicradiotulsa.org/post/former-arrow-chief-headed-prison

Former Arrow Trucking CEO, Doug Pielsticker, changes his original plea on two federal charges.

At a change of plea hearing in Tulsa federal court Wednesday, Pielsticker changed his plea from not guilty to guilty on a $25.6 million conspiracy charge as well as to a charge of lying on his taxes.

He originally faced 23 federal charges, but according to an U.S. assistant district attorney, his charges were reduced to only these two in a plea deal.

Pielsticker revealed to the judge he became aware Arrow Trucking Company wasn't paying payroll taxes to the IRS, but he did nothing to change that. He went on to say he didn't personally "write false and inflated" invoices to the bank- but was aware of that too and didn't correct it.

Pielsticker also admitted Arrow Trucking paid his personal expenses, but he didn't report that on his taxes.

He faces up to 10-years in prison and $51 million in restitution.

[heironymouspasparagus]

Got thrown a softball....

What a sleazebag.