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