Grand Jury indicts 2 former executives at Celadon trucking

(WTHR photo: Scott Allen)

INDIANAPOLIS (WTHR) - Two former top executives at Indianapolis based Celadon trucking could spend decades in prison if found guilty of defrauding people out of millions of dollars.

A grand jury indicted former COO William Meek and former CFO Bobby Peavler.

They now face charges including wire fraud, securities fraud, and conspiracy to commit fraud.

U.S. Attorney Josh Minkler says the pair concocted and carried-out a complex scheme to inflate the company's value.

Minkler says when the plan unraveled two years ago shareholders lost more than 60-million dollars.

Earlier this year, another former Celadon executive pleaded guilty to federal conspiracy charges.

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