- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-04-12T16:47:00
Two former executives of trucking company Celadon Group each agreed to pay $50,000 to settle charges levied by the Securities and Exchange Commission (SEC) they engaged in accounting fraud to inflate the company’s earnings.
William Eric Meek, the former president and chief operating officer of Celadon, and Bobby Peavler, the former chief financial officer, ran a scheme involving buying trucks and then selling them at two to three times their fair market value, the SEC alleged in its December 2019 complaint. The agency announced the settled charges in a litigation release Monday.
The agreements with the executives follow a $42.2 million settlement between Celadon and the SEC in April 2019. The agency alleged the company filed materially false and misleading statements to investors and falsified books, records, and accounts.
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