CEO Of Freight, Drink Cos. Fudged Financials, SEC Says

Law360, New York (June 6, 2017, 9:45 PM EDT) -- The U.S. Securities and Exchange Commission hit a former CEO and a company he ran with a lawsuit in New York federal court on Tuesday alleging that he used a sham company as a dumping ground for unwanted liabilities from the motor freight and beverage businesses he was hired to turn around.

The SEC says David N. Fuselier cooked the books at Integrated Freight Corp. and New Leaf Brands Inc. by transferring the publicly traded companies' defunct subsidiaries to a sham company called Deep South Capital LLC that he set up with a friend and then improperly accounting for the transactions....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!