Earlier this month, Doug Pielsticker, the former CEO of Arrow Trucking, begged a federal judge for a lighter sentence after pleading guilty to tax fraud and bank fraud.
On October 8th, his sentence was handed down and it appears that his pleas for mercy were not met. Pielsticker was sentenced to 7.5 years in prison, out of a possible 8 years. The court also ordered him to pay $21 million in restitution and over $1 million in back taxes.
Despite pleading guilty to large scale fraud, Pielsticker is widely loathed for what many consider his most despicable act — abruptly shutting down his trucking company, two days before Christmas 2009, leaving 900 drivers stranded with no pay or gas to get home.
During his sentencing, Pielsticker issued an apology for his actions. “I’m sorry to my family. I’m sorry to the court. I’m sorry to the people of Arrow that worked for me,” he told Judge Gregory Frizzell.
His lawyer told reporters he hopes the media and public can “find a way in [their] heart to forgive and move on.”