INDIANAPOLIS — Federal fraud charges have been dropped against two former senior management officials at an Indianapolis-based trucking company that filed for bankruptcy in 2019 just a week after the indictments were filed.
The Department of Justice moved to dismiss the indictment against former Celadon Trucking executives William E. Meek and Bobby L. Peavler with prejudice, meaning the charges cannot be refiled.
Meek was the company's president and chief operating officer and Peavler was once the chief financial officer.
The order, signed by a U.S. Magistrate Judge on Sept. 2, mandates the parties to the case file a joint status report by Nov. 2, "stating specifically how they propose that this case should proceed going forward, including imposition of Case Management Plan deadlines and settlement."
The indictment was filed in the U.S. District Court of the Southern District of Indiana and was first unsealed in early December 2019.
The scheme cost shareholders millions of dollars and sent stock prices tumbling.
Days later, Celadon issued a news release saying it was filing for Chapter 11 bankruptcy and "winding down operations".
Earlier that year, Celadon Group Inc. agreed to pay $42.2 million in restitution to settle securities fraud charges stemming from falsely-reported inflated profits and assets to investors.
Meek and Peavler faced charges including conspiracy to commit wire, bank and security fraud.
-
Veal’s Ice Tree takes root thanks to cold snap, continued family dedication
An annual winter tradition in central Indiana is taking shape as the 2025 edition of the Veal family’s ice tree began its upward journey last week.
FBI investigating international travel of New Orleans attacker
We're learning new details about where a terrorist traveled before the New Year's Day attack in New Orleans that killed 14 people and injured dozens.
IndyGo buses keep on rolling despite several inches of snow
IndyGo decided to keep its regular schedule so that both those who did not want to drive and those who could not drive could access as much of the city as possible.
Indianapolis tow truck drivers help those who are stranded after winter storm
Local tow truck drivers are helping Hoosiers who are stuck in the snow. They are urging residents to stay home if they don't need to be on the roads.
