Former Arrow Trucking CEO, Doug Pielsticker, changes his original plea on two federal charges.
At a change of plea hearing in Tulsa federal court Wednesday, Pielsticker changed his plea from not guilty to guilty on a $25.6 million conspiracy charge as well as to a charge of lying on his taxes.
He originally faced 23 federal charges, but according to an U.S. assistant district attorney, his charges were reduced to only these two in a plea deal.
Pielsticker revealed to the judge he became aware Arrow Trucking Company wasn't paying payroll taxes to the IRS, but he did nothing to change that. He went on to say he didn't personally "write false and inflated" invoices to the bank- but was aware of that too and didn't correct it.
Pielsticker also admitted Arrow Trucking paid his personal expenses, but he didn't report that on his taxes.
He faces up to 10-years in prison and $51 million in restitution.