Thursday, February 5, 2009
Former Arkansas Executive Found Guilty Of Defrauding Company
Kelly Wooldridge, 50, and the former president of Continental Express Inc. of Little Rock, Arkansas, was found guilty last week of defrauding the company out of some $872,000. Wooldridge allegedly set up companies and bank accounts with similar names as the trucking company he worked for and then diverted the funds over a 3 year period. Specifically, Wooldridge was acquited on credit card fraud charges, but convicted of mail fraud. Co-defendant, Todd Tiefel, the company's former chief financial officer, pleaded guilty last year in the case and cooperated with prosecutors in the case against Wooldridge. He faces up to 20 years in prison and $250,000 in fines.