The former head of the defunct carrier Arrow Trucking, James Douglas Pielsticker, has been sentenced to 7 ½ years in prison for tax fraud, according to a report from the Tulsa World.
The Oklahoma-based Arrow closed without warning in late 2009. Pielsticker was indicted last December on charges of tax fraud and using company money to lead a lavish lifestyle. He pleaded guilty to federal charges of tax evasion and conspiracy to commit tax fraud in February and was finally sentenced on Oct. 9.
Arrow’s former vice president, Jonathan Moore, testified that Pielsticker was spending company money on his home while the company had trouble making ends meet. He reportedly spent $70,000 on a portrait of his wife and $80,000 on a baby nursery. Moore was also implicated in the fraud scheme.
Pielsticker was found responsible for $11 million in fraudulent invoices to Transportation Alliance Bank and $10 million in unpaid payroll taxes. Bankruptcy proceedings showed that Arrow had $8.5 million in assets but almost $100 million in liabilities at the time of its closure.
Due to a heart condition that needed medical attention, Pielsticker has been ordered to report to prison by Jan. 7, 2016.
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