Arrow Trucking CEO Who Left Hundreds Of Truckers Stranded Asks Judge To Go Easy On Him

Go easy on him? That's as cowardly as you can get. Ten years is a long time which unfortunately I doubt he'll get but he sure does deserve it. He didn't "go easy" on all the drivers he left blindsided and stranded. Right before Christmas at that.

As bad as it is to say, isn't that the way things usually go when the kid takes over? Not 100% of the time but seems to happen more often then not.

According to CNBC, 70% of all second generation businesses fail. So yes indeed that is the way things usually go.

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You can get an e-book about the entire affair.

"Big Rigs, Posh Digs, Fast Cars, Dark Bars..."

I just purchased it on Amazon for Kindle, $4.49. Looks interesting. Gonna read it now... will keep me out of trouble here, on my day off.... Thanks for posting this!

I read it in about two or three hours. Mom should have let the daughter take over.

Dave

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You can get an e-book about the entire affair.

"Big Rigs, Posh Digs, Fast Cars, Dark Bars..."

I just purchased it on Amazon for Kindle, $4.49. Looks interesting. Gonna read it now... will keep me out of trouble here, on my day off.... Thanks for posting this!

I read it in about two or three hours. Mom should have let the daughter take over.

Dave

I read it last night. I was thinking the same thing. Unfortunately, mom doesn't have much more sense than son.

Ex-Trucking CEO Apologizes To Victims After Being Sentenced To 7.5 Years In Prison

Earlier this month, Doug Pielsticker, the former CEO of Arrow Trucking, begged a federal judge for a lighter sentence after pleading guilty to tax fraud and bank fraud.

On October 8th, his sentence was handed down and it appears that his pleas for mercy were not met. Pielsticker was sentenced to 7.5 years in prison, out of a possible 8 years. The court also ordered him to pay $21 million in restitution and over $1 million in back taxes.

Despite pleading guilty to large scale fraud, Pielsticker is widely loathed for what many consider his most despicable act — abruptly shutting down his trucking company, two days before Christmas 2009, leaving 900 drivers stranded with no pay or gas to get home.

During his sentencing, Pielsticker issued an apology for his actions. “I’m sorry to my family. I’m sorry to the court. I’m sorry to the people of Arrow that worked for me,” he told Judge Gregory Frizzell.

His lawyer told reporters he hopes the media and public can “find a way in [their] heart to forgive and move on.”

Ex-Trucking CEO Apologizes To Victims After Being Sentenced To 7.5 Years In Prison

Earlier this month, Doug Pielsticker, the former CEO of Arrow Trucking, begged a federal judge for a lighter sentence after pleading guilty to tax fraud and bank fraud.

On October 8th, his sentence was handed down and it appears that his pleas for mercy were not met. Pielsticker was sentenced to 7.5 years in prison, out of a possible 8 years. The court also ordered him to pay $21 million in restitution and over $1 million in back taxes.

Despite pleading guilty to large scale fraud, Pielsticker is widely loathed for what many consider his most despicable act — abruptly shutting down his trucking company, two days before Christmas 2009, leaving 900 drivers stranded with no pay or gas to get home.

During his sentencing, Pielsticker issued an apology for his actions. “I’m sorry to my family. I’m sorry to the court. I’m sorry to the people of Arrow that worked for me,” he told Judge Gregory Frizzell.

His lawyer told reporters he hopes the media and public can “find a way in [their] heart to forgive and move on.”

From what I've read, sounds like Doug Pielsticker has plenty of money, but he'll have to wait 7.5 years to enjoy it... on the other hand...

Any mention of parole- when can he get out? Any estimate of his wealth?

From what I've read, sounds like Doug Pielsticker has plenty of money, but he'll have to wait 7.5 years to enjoy it... on the other hand...

Any mention of parole- when can he get out? Any estimate of his wealth?

No mention of parole.

Restitution was set for $21 million, though the judge acknowledged during the proceedings that Pielsticker does not have the means to pay fines. A payment schedule will be set up with the IRS for the $1 million owed in back taxes after he is released from prison for three years of supervised release.

Recent court records include more allegations about Pielsticker’s personal spending habits at the time his company was careening toward bankruptcy:

$150,000 for an interior designer

$80,000 for a baby’s nursery

$70,000 for a portrait of his second wife

$8,000 a month at Southern Hills Country Club for food and drinks

$3,000 to $4,000 spent regularly at In The Raw restaurant

$150,000 for a weekend in Dallas at the 2008 University of Oklahoma-Texas football game

$250,000 worth of shoes for his second wife

Owned 15 Rolex watches

Leased a private jet for personal trips and vacations

Recent court records include more allegations about Pielsticker’s personal spending habits at the time his company was careening toward bankruptcy:

$150,000 for an interior designer

$80,000 for a baby’s nursery

$70,000 for a portrait of his second wife

$8,000 a month at Southern Hills Country Club for food and drinks

$3,000 to $4,000 spent regularly at In The Raw restaurant

$150,000 for a weekend in Dallas at the 2008 University of Oklahoma-Texas football game

$250,000 worth of shoes for his second wife

Owned 15 Rolex watches

Leased a private jet for personal trips and vacations

Yeah... Bon voyage, you schmuck.

He basically ran up the company's credit and figured that the good times would keep on rolling.

Dave