Bond co. owner indicted for defrauding motor carrier trust funds

| February 07, 2014
A federal investigation that began four years ago following a request by the Transportation Intermediaries Association has resulted in the indictment of a California bond company owner on charges of defrauding motor carrier trust funds.
 
A Los Angeles federal grand jury indicted Bonnie Warren, owner of Oasis Capital, Inc., of Fullerton in connection with a fraudulent trust fund scheme Jan. 24, according to the U.S. Department of Transportation’s Inspector General. In January 2010, the Federal Motor Carrier Safety Administration suspended Oasis’ privileges to file trust funds on brokers’ behalf and began revoking approximately 500 Oasis trust funds filed with the agency.
 
The FMCSA had investigated a complaint by the third-party logistics professional organization that Oasis had violated agency regulations. TIA had alleged the company accepted property brokers’ money for trust funds, but used the funds for other purposes. Federal law require these funds be maintained to pay motor carriers and shippers if the broker fails to its satisfy its contract to provide transportation services by motor carriers.
 
Further information on the indictment charges was not immediately available.

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  • JJMclure

    don’t trust anyone from Calif.

  • Paulzo

    Not a fair comment. There are many
    good people here is California. We’re not all Obama supporters and actually do
    believe in hard work and an honest day’s pay.

  • Robert Henry

    Goes to show why there needed and still needs to be reform to the way brokers and the companies that provide their bonds are regulated. Too many bad apples over the years have left a bad taste in the mouths of all.