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.
-
Annual toy giveaway at IMS helps serve 1,000 Hoosier families
Indianapolis Colts legend Reggie Wayne joined the AMP Harris Foundation to hand out gifts, food, and tickets to the Indy 500, Colts and Pacers game to kids this holiday season.Indy kid inspires foundation to help homeless Hoosiers stay warm during winter
9-year-old Malik Ford and his Godfather partnered with an Indy veteran who used to be homeless himself to hand out blankets, sleeping bags, clothes, food and hygiene products to those in need.Top-seeded Oregon sees title hopes dashed with early knockout by Ohio State
The Ducks (13-1) fell behind three plays into the game when Ohio State's Jeremiah Smith scored on a 45-yard pass from Will Howard and never recovered.Suspects in Vegas, New Orleans incidents served at same Army base, sources say
Sources told Scripps News Denver that investigators are looking into a possible link between incidents in Las Vegas and New Orleans.