Ex-Arrow Trucking CEO Indicted On Fraud Charges

Federal prosecutors say Doug Pielsticker was indicted Friday in Dallas -- where he now lives -- and will be returned to Tulsa.

Saturday, December 6th 2014, 3:11 pm

By: News On 6

Ex-Arrow Trucking CEO Indicted On Fraud Charges

Almost five years after the demise of Arrow Trucking Company in Tulsa -- the company's former chief executive officer and president has been indicted on bank and tax fraud charges.

Federal prosecutors say Doug Pielsticker was indicted Friday in Dallas -- where he now lives -- and will be returned to Tulsa.

12/5/2014 Related Story: Former Arrow Trucking CEO Accused Of Fraud, Tax Evasion

12/4/2014 Related Story: Former Arrow Trucking CEO Arrested In Dallas

Court documents do not list an attorney for Pielsticker.

The indictment alleges Pielsticker provided false and misleading invoices to Transportation Alliance Bank of Ogden, Utah, in order to collect more money from the company's credit line -- costing the bank just more than $15 million. Pielsticker also allegedly owes about $9.5 million in unpaid payroll and personal taxes.

Arrow unexpectedly closed its doors three days before Christmas in 2009, leaving hundreds of workers jobless and drivers stranded across the country.

Related Story 2/23/2010: Arrow Trucking CEO: 'No Knowledge' Of Financial Troubles

3/4/2011 Related Story: Tulsa Mansion Belonging To Former Arrow Trucking CEO To Be Auctioned Off