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FBI rounds-up former Polar execs, charged with $52million fraud
Former Polar Air Cargo COO Lars Winkelbauer has been arrested and charged, along with 10 others, with defrauding the all-cargo carrier of an estimated $52m. Mr Winkelbauer was arrested in Thailand and will be extradited to the US, while the nine other accused were rounded up by US federal law enforcement officers on Wednesday, after the US Department of Justice concluded it had sufficient evidence to move the case forward. (theloadstar.com) More...
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After reading the article I just have one question…what did they do?
TL;DR
The summary is derived from the web page and the web search results.
The article reports that former senior executives of Polar Air Cargo and some vendors have been charged with defrauding the cargo airline of $52 million over a decade. The executives allegedly accepted kickbacks and rigged contracts to favour vendors they had interests in, corrupting nearly every aspect of the company's operations. The fraud scheme was discovered in 2021 and the suspects face up to 20 years in prison. The article also mentions a lawsuit filed by a freight forwarder against Polar Air Cargo for racketeering and fraud.
Source: Conversation with Bing, 4/21/2023(1) Ex-Polar Air Cargo Execs, Vendors Accused Of $52M Fraud. https://www.law360.com/articles/1596192/ex-polar-air-cargo-execs-vendors-accused-of-52m-fraud Accessed 4/21/2023.
(2) Execs charged with $52mn fraud against Polar Air Cargo. https://www.ch-aviation.com/portal/news/126625-execs-charged-with-52mn-fraud-against-polar-air-cargo Accessed 4/21/2023.
(3) US's Polar Air Cargo faces racketeering, fraud charges. https://www.ch-aviation.com/portal/news/122312-uss-polar-air-cargo-faces-racketeering-fraud-charges Accessed 4/21/2023.
The summary is derived from the web page and the web search results.
The article reports that former senior executives of Polar Air Cargo and some vendors have been charged with defrauding the cargo airline of $52 million over a decade. The executives allegedly accepted kickbacks and rigged contracts to favour vendors they had interests in, corrupting nearly every aspect of the company's operations. The fraud scheme was discovered in 2021 and the suspects face up to 20 years in prison. The article also mentions a lawsuit filed by a freight forwarder against Polar Air Cargo for racketeering and fraud.
Source: Conversation with Bing, 4/21/2023(1) Ex-Polar Air Cargo Execs, Vendors Accused Of $52M Fraud. https://www.law360.com/articles/1596192/ex-polar-air-cargo-execs-vendors-accused-of-52m-fraud Accessed 4/21/2023.
(2) Execs charged with $52mn fraud against Polar Air Cargo. https://www.ch-aviation.com/portal/news/126625-execs-charged-with-52mn-fraud-against-polar-air-cargo Accessed 4/21/2023.
(3) US's Polar Air Cargo faces racketeering, fraud charges. https://www.ch-aviation.com/portal/news/122312-uss-polar-air-cargo-faces-racketeering-fraud-charges Accessed 4/21/2023.
Read the story…. There are allegations that executives took bribes for ensuring vendors they also had undisclosed interests in received favourable business arrangements with the carrier between 2009 and 2021.
I'd be in Thailand too
What were they doing in Thailand? Getting a messege?
Hmm...doesn't surprise me, having heard a few things about Polar over the years.
