Ex-Trucking Co. Execs Charged With $245M Accounting Fraud

Law360 (June 18, 2018, 3:19 PM EDT) -- The U.S. Department of Justice accused two former Roadrunner Transportation Systems Inc. executives of running a complex accounting and securities fraud scheme that resulted in more than $245 million in losses for shareholders who invested in the publicly traded trucking company.

In a redacted indictment unsealed Friday, the government charged Mark R. Wogsland, 53, and Bret S. Naggs, 52, of Cedarburg, Wisconsin, each with two counts of conspiracy, three counts of securities fraud and four counts of wire fraud.

The indictment alleges that between 2014 and 2017, Naggs and Wogsland misled investors and regulators about the company's financial health by hiding...

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