Former Arrow owner pleads not guilty

TULSA, Okla. (AP) – The owner of a failed trucking company has pleaded not guilty to federal banking and tax fraud charges.

The Tulsa World reports (http://bit.ly/1AWf0jn ) that 46-year-old James Douglas "Doug" Pielsticker entered the plea to a 23-count indictment that claims he defrauded the Internal Revenue Service and a Utah bank of $24 million while he was chief executive officer of the now-closed Arrow Trucking Co.

Pielsticker remained free on a $50,000 unsecured appearance bond following the brief hearing held in U.S. District Court in Tulsa. Pielsticker declined to comment on the case following the hearing.

Federal prosecutors unsealed the indictment on Dec. 5. Records show that Arrow Trucking’s former chief financial officer, 37-year-old Jonathan Leland Moore, pleaded guilty on Dec. 4 to federal tax fraud and bank fraud charges.