A federal jury in the Eastern District of Wisconsin has convicted former Roadrunner Transportation Systems Inc. CFO Peter R. Armbruster of securities fraud and accounting violations.
Armbruster, 62, of Milwaukee, was convicted on four counts of violating federal securities laws for his role in a complex securities and accounting fraud scheme.
According to court documents and evidence presented at trial, Armbruster committed securities fraud, falsified Roadrunner’s books and records, and misled Roadrunner’s auditors. The scheme resulted in Roadrunner’s financial statements and Securities and Exchange Commission filings for the third quarter of 2016 being materially false and fraudulent.
Armbruster was convicted of one count of securities fraud, one count of misleading Roadrunner’s auditors, and two counts of falsifying Roadrunner’s books and records. He faces a maximum prison sentence of 25 years’ imprisonment for securities fraud, 20 years imprisonment for misleading auditors, and 20 years’ imprisonment for each books and records violation.
The FBI’s Milwaukee Field Office and the Department of Transportation’s Office of Inspector General are investigating the case. Assistant U.S. Attorney Caitlin R. Cottingham provided valuable assistance, while Trial Attorneys Emily Scruggs, Kyle Hankey, and Acting Principal Assistant Chief Justin Weitz of the Criminal Division’s Fraud Section prosecuted the case.
The Fraud Section is the nation’s leading prosecuting authority for complex white-collar criminal cases, including accounting and securities fraud cases involving public companies.
Armbruster is scheduled to be sentenced on October 29 before U.S. District Judge Matthew F. Kennelly.
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Key Facts
- State: Wisconsin
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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