In a court filing last month, the U.S. Department of Justice asked a federal judge to throw out all nine charges against two dormer executives for their alleged role in a scheme that cost Celadon shareholders more than $60 million.
Celadon, at one time an Indianapolis-based leader in the North American logistics industry, has closed and filed for bankruptcy. Here's how that happened.dismissed a securities and accounting fraud case against two former top executives of Celadon Group Inc.,
Federal prosecutors did not explicitly say why they dismissed the case against the two former Celadon executives. However, attorneys representing both men interpret the dismissal as the government recognizing their innocence in the matter.an Paganelli Law Group attorney representing Meek.Michael Kelly, a partner at Akerman LLP and Peavler's attorney, said it's out of the norm for the government to dismiss a case before its trial, but he thinks the dismissal highlights two points.
Days before Celadon's filed for bankruptcy, the two men were arrested and charged in a nine-count indictment, that alleged conspiracy to commit wire fraud, bank fraud, and securities fraud; five counts of wire fraud; two counts of securities fraud; conspiracy to make false statements to a public company’s accountants and to falsify books, records, and accounts of a public company; and one count of making false statements to a public company’s accountants.
In exchange, the government could not use the interview against Peavler during a trial if he were prosecuted, with few exceptions. But court documents show that prosecutors and defense attorneys disagreed about the accuracy of the FBI’s unrecorded, written transcript of that interview.
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