Bond co. owner indicted for defrauding motor carrier trust funds

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.

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Highway bill compromise raises broker bond to $75,000

Language in the tentative agreement raises the surety bond minimum to $75,000 from $10,000, where it had been since the deregulation era.

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Broker sentenced 11 years for defrauding carriers

A California broker who continued defrauding carriers even after being indicted for it has been sentenced to 10 years and 10 months in prison. On March 28, U.S. District Judge Lawrence K. Karlton of the state’s Eastern District delivered the sentence to Kulwant Singh Gill, 53, and ordered him to pay $443,388 in restitution to his victims. The Antelope resident owned and operated companies authorized to transport freight and to broker interstate loads, according to a federal ...

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