Overdrive Magazine | Trucking Business News & Owner Operator Info
Issue link: http://read.dmtmag.com/i/441527
18 | Overdrive | January 2015 Logbook WINTER 2014 0˚F CRITICAL LOAD From 0˚ F to 96˚ F in .16gph 66% reduction in PM emissions 29% reduction in CO Fuel savings of .84 gph on every start* Full equipment readiness in the coldest climates Full equipment readiness in the coldest climates D5 Espar Heaters: They Just Make Sense www.espar.com (800) 387- 4800 * PRE-HEAT IDLE FREE TROUBLE FREE 0˚F 100˚F Field Test Data - Fairbanks, Alaska, February 2013. Hydronic D5 Heater Running Time/Pre-Heat minutes 60 minutes. Tests conducted by AJ Engineering Corp. Engine: Troy, MI. 7.6 L / 466 cu. in. *Based on a $4 gallon. Untitled-41 1 5/27/14 8:29 AM The former president and chief ex- ecutive officer of now-defunct Arrow Trucking was indicted last month on 23 counts of fraud and tax evasion, all tied to mismanagement and schemes that prosecutors say were involved in the company's demise. The Dec. 1 indictment of James D. Pielsticker stems in part from alleged fraudulent and inflated invoices sent to creditor Transportation Al- liance Bank. It also concerns his use of Arrow accounts to pay for personal expenses such as his wedding, a Porsche, a Bentley, a Maserati, his per- sonal credit cards and deposits to his wife's bank account. Prosecutors allege that Pielsticker would send invoices that were fraudulently inflated and Transportation Alliance Bank would pay the exces- sive invoices pursuant to an agreement between the two companies. Also alleged is that sometimes Arrow would have employees pretend to be the company's shipper customers in phone calls with the bank. Court documents reveal that Pielsticker pocketed about $15 million in the scheme. Prosecutors also allege Piel- sticker fraudulently obtained another roughly $5 million from tax evasion, either from not reporting income he earned or by not paying the federal government payroll withholdings from Arrow employee paychecks. Funds withheld from em- ployees' paychecks for federal income taxes, Medicare and Social Security taxes were not deposited and instead kept by Pielsticker, prosecutors allege. Arrow shut down without notice in December 2009, leaving its drivers, trucks and freight stranded nationwide. FMCSA a week later issued an emergency order direct- ing the carrier to remove its equipment and cargo to safe places or face penalties. Arrow then filed for bankruptcy. A court later approved $2.9 million in wage claims stem- ming from Arrow's closure. – James Jaillet Former Arrow Trucking CEO indicted