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  1. #1
    DrivingZiggy's Avatar
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    May 2013
    Lafayette, LA

    Thumbs down Trucking Company Owner Finally Arrested 5 Years Later

    Quote Originally Posted by Owner Operator Independent Drivers Association
    Former Arrow Trucking Co. exec Pielsticker arrested

    By David Tanner, Land Line senior editor
    Federal prosecutors were set to indict former Arrow Trucking Company CEO Doug Pielsticker on fraud and conspiracy charges on Friday, Dec. 5. Pielsticker spent Thursday night in a Dallas jail on an undisclosed charge and was scheduled to appear before the U.S. District Court for the Northern District of Texas according to the FBI.

    The Tulsa World reported this week that another former Arrow Trucking Co. executive, Jonathan Leland Moore, struck a plea deal with prosecutors that fingers Pielsticker as a fraud conspirator.

    Arrow Trucking Co. closed its doors abruptly just before Christmas in 2009, stranding hundreds of drivers without paychecks, fuel cards or the means to get home to their families.

    Pielsticker filed for bankruptcy protection from creditors soon after the shutdown.

    Doug Pielsticker, now 46, was named CEO of Tulsa-based Arrow Trucking Co. after his father and prominent Tulsa businessman Jim Pielsticker was killed in a plane crash in 2001.

    Much has been alleged and written about how the younger Pielsticker ran the company, how he spent large sums on cars, an airplane and vacation property and left his drivers hanging at the end.

    Former company drivers filed a lawsuit in 2011 seeking restitution for what they were owed. Deliberations revealed that Pielsticker and his mother Carol Pielsticker Bump had been living high on the hog and spending lavishly even as their company was going down the tubes.

    According to the lawsuit, Doug Pielsticker allegedly misreported company assets to banks in an effort to obtain loans.

    The trustee in the lawsuit, Patrick Malloy, estimated that Arrow Trucking Co. had $8.5 million in assets but owed $99 million to creditors.

    The suit alleged that Pielsticker fraudulently transferred $8.4 million to himself “disguised as salary” while Bump received $4.4 million.

    Pielsticker and Bump agreed to settle the civil suit with the trustee who distributed more than $2 million to 550 former company drivers.

    In November 2010, prior to the civil suit being filed, Doug Pielsticker was arrested on a bad-check warrant during a traffic stop. His attorney managed to get a felony charge dropped after Pielsticker agreed to send $1,200 to former Arrow Trucking Co. driver Denny Carter who had pursued charges against his former boss.

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    You people have probably not heard about this situation, so I will elaborate.

    Arrow used to be one of the best companies for a trucker to work for. How do I know? Well, I applied and they actually rejected me! That's pretty much unheard of in the trucking world and shows how picky they were about who they would hire. Well, at least until the old man died.

    But then just before Christmas 2009, their drivers were not notified of anything wrong. The only indication they had was when they went to fuel up and their fuel cards would not work. So they would call in to see what the deal was only to be told to park the truck in the lot and pretty much abandon it, or drive it to the closest Arrow facility (where they would then be informed that they no longer had a job and just abandon the truck). Now, this caused a frenzy because people were already anxious about getting home for Christmas and additional anxiety about getting another job quickly and even more anxiety worrying about getting paid for the work they'd already done.

    As if to add insult to injury, Arrow also had a "lease-purchase" program. This involved Arrow providing a truck to a driver who would be "leasing to own" in a way. The driver would get paid as though her were an owner, and the payments for the truck would be deducted from the settlements along with payments for insurance, fuel, repairs, escrow, and whatever else was involved. And eventually (supposedly) the driver would own the truck. Woohoo! But when all of this drama emerged, the drivers contacted the leasing company (Daimler in the majority of cases) it turns out that Arrow never made the payments to Daimler even after taking the money from the driver!!! So those guys were screwed out of many thousands of $$$.

    Pielsticker attempted to avoid arrest and paying what he owed by moving to one of his out of state homes and declaring personal bankruptcy.

    This was a huge shock to the trucking community! People were scrambling to try to get paid, get home, get a job. Thankfully, there is a channel on XM/Sirius that focuses on trucking and truckers and the call went out for help. Many truckers volunteered to give a lot of the Arrow drivers a ride in the right direction. Although many did, I'm sure it wasn't enough as this shutdown affected thousands of Arrow drivers.

    I'm glad this scum sucker is in jail. I hope he rots. And his mom, too!
    Quote Originally Posted by Owner Operator Independent Drivers Association
    Plea offer expected from former Arrow Trucking Co. CEO Pielsticker

    By David Tanner, Land Line senior editor
    The former boss who pulled the plug on Tulsa-based Arrow Trucking Co. and stranded drivers without pay or fuel cards just before Christmas in 2009 was expected to change his plea in court Wednesday to guilty on two of the counts against him. Doug Pielsticker initially pleaded not guilty on 23 counts of conspiracy to commit fraud and tax evasion.

    According to reports, Pielsticker will be sentenced on March 12.

    Prosecutors indicted the former CEO in December 2014 after he was arrested by Dallas police on Dec. 4. According to the indictment, Pielsticker conspired to defraud Utah-based Transportation Alliance Bank out of $15 million by misreporting company assets to the bank in an effort to secure loans.

    Pielsticker, who is from Tulsa, Okla., but lives in Dallas, posted $50,000 bail and has been a free man pending the outcome of the criminal case.

    Doug Pielsticker shut Arrow Trucking Co. down without warning to drivers on Dec. 22, 2009, and later declared bankruptcy.

    Many drivers were stranded without pay or fuel cards to get home or back to a terminal. Some were forced to abandon their trucks and relied on a generous outpouring from fellow truckers and the public to get home and back on their feet.

    According to a civil lawsuit filed against Pielsticker in 2011 and later settled, Arrow Trucking Co. had $8.5 million in assets but owed $99 million to creditors.

    Pielsticker and his mother, Carol Pielsticker Bump, allegedly spent large amounts of company money on themselves even as Arrow Trucking Co. was struggling to make ends meet.

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    Quote Originally Posted by Owner Operator Independent Drivers Association
    Pielsticker changes plea to guilty, faces up to 10 years in prison

    By David Tanner, Land Line senior editor
    As expected on Wednesday, Feb. 4, the former CEO of Tulsa-based Arrow Trucking Co., Doug Pielsticker, changed his plea to guilty on one count of conspiracy to commit bank fraud and on one count of evasion on his personal income taxes. While scaled back from the initial 23-count indictment he initially pleaded not guilty to, Pielsticker still faces up to 10 years in prison when he appears before a judge in May.

    U.S. Attorney Danny C. Williams Sr. of the North District of Oklahoma announced that Pielsticker, 46, has admitted to evading his personal income taxes and using Arrow Trucking Co. payroll withholdings to finance a wedding and expensive Bentley and Maserati automobiles.

    Attorneys agreed that the remaining 21 counts would be dropped in exchange for the guilty plea on two counts.

    Pielsticker pulled the plug on Arrow Trucking Co. on Dec. 22, 2009, leaving drivers stranded without paychecks and fuel cards.

    The company’s former chief financial officer, Jonathan Leland Moore, copped to a plea deal that named Pielsticker as a co-conspirator in a scheme to defraud Utah-based Transportation Alliance Bank out of $15 million in loans by overstating and misrepresenting the worth of Arrow Trucking Co.

    Moore’s plea deal lead to Pielsticker’s arrest in Dallas in early December 2014. Later that month, on the fifth anniversary of the Arrow Trucking Co. shutdown, a grand jury indicted Pielsticker on 23 criminal counts. He posted $50,000 bond and has remained free.

    The U.S. Department of Justice says the maximum sentence for pleading guilty to the two federal counts is 10 years in prison.

    “As part of the plea agreement, Pielsticker admitted that he evaded his individual income taxes due and owing to the United States for 2009 by causing Arrow Trucking to spend thousands of dollars on his various personal expenses, including payments related to his wedding and on Bentley and Maserati automobiles,” the DOJ stated Wednesday in a press release.

    The DOJ says Pielsticker will be sentenced May 15 in Tulsa.

    Doug Pielsticker was named CEO of Arrow Trucking Co. by his mother Carol in 2001 after his father and company president Jim Pielsticker, was killed in a plane crash.

    Arrow Trucking Co. had 1,400 trucks in 2008 when the company signed a deal with Daimler to replace its fleet with new trucks over five years. According to court documents, Arrow Trucking Co. suffered from cash flow problems in 2009 and began borrowing from Transportation Alliance Bank using inflated statements about company assets.

    After the company’s downfall, a civil lawsuit filed by drivers against Pielsticker revealed that Arrow Trucking Co. had $8.5 million in assets but owed $99 million to creditors. The lawsuit, later settled, revealed that Pielsticker and his mother, Carol Pielsticker Bump, had spent lavishly on themselves as Arrow Trucking was on its way to bankruptcy.

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  2. #2
    Banned User
    Join Date
    Jun 2010
    Milwaukee WI
    This kind of stuff really sucks. More and more every day workers are getting screwed by pieces of shit like this. Until the workers start fighting back, it will keep happening.

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