Action against Defendant, president of a trucking company, for alleged accounting fraud.  According to the SEC, Defendant agreed to purchase trucks from third parties at inflated prices, and the third parties agreed in exchange to purchase Defendant’s used trucks at similarly inflated prices. The SEC alleges that Defendant therefore concealed losses on the sales of the used trucks, resulting in falsified financial statements.  Defendant has pleaded guilty in a parallel criminal proceeding in the Southern District of Indiana.

SEC Complaint

SEC Litigation Release