Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
Sanjay Singh, owner of Royal Bengal Logistics, faces charges for running a $100 million Ponzi scheme. Singh allegedly deceived investors about the profitability of his company.
Sanjay Singh, the owner of Royal Bengal Logistics, a trucking company based in Florida, is charged with running a $100 million Ponzi scheme. According to federal prosecutors, Singh misled investors about the financial health of his company, promising them high returns on their investments. In reality, his company was losing money. The funds collected from new investors were used to pay the earlier ones, the classic sign of a Ponzi scheme. Singh has been indicted and arrested, facing multiple charges such as conspiracy to commit wire fraud and engaging in transactions in unlawful proceeds. He could face up to 150 years in prison if convicted.
Source: Justice.gov & FreightWaves
Bad month for trucking companies named after big cats
— Dooner 🏴☠️ (@TimothyDooner) June 25, 2023
First Tiger Cool Express went under and now Royal Bengal Logistics got nailed in a Ponzi scheme https://t.co/mimoV9uvcX
New hire's suspicious behavior raises red flags at freight company. Industry veteran shares similar tale, highlighting ongoing corporate espionage concerns.
A truck carrying flammable chemicals crashed and exploded on Route 3 in Clifton, NJ, killing the driver and forcing evacuations.
Q2 sees slower rate of trucking business exits, but market remains challenging. Here are the latest industry data and expert insights.
Driver wages remain the largest expense. Safety bonuses ($1,831 average) surpassed starting bonuses for the first time.
Join over 10K+ subscribers to get the latest freight news and entertainment directly in your inbox for free. Subscribe now & be sure to check your inbox to confirm (and your spam folder just in case).
