Continental Express Hits Bumpy Road

by Mark Friedman  on Monday, May. 4, 2009 12:00 am  

Ralph Bradbury, right, the former president of Continental Express Inc., and Pete Campbell, the former executive vice president of CEI, were the only two executives retained by the Celadon Group Inc., which bought the truckload, intermodal and brokerage b

But Bradbury was burned out and left the company in 1999, he told Arkansas Business in 2006.  

Bradbury also told Arkansas Business that he and Harvey had remained friends after the split with the company. Still, the departure proved costly for Continental.

In November 2002, Continental named Michael Kelly Wooldridge as president and Todd Tiefel as its CFO.

The two executives, who were paid more than $100,000 annually, stayed on until May 2005 when it was discovered that they schemed to take more than $1 million from the company, according to the U.S. Attorney’s office.

After Wooldridge and Tiefel left, Harvey called Bradbury in 2005 and asked him to return to Continental, which he did.

Tiefel pleaded guilty in January 2008 to aiding and abetting mail fraud. He was sentenced to 16 months in prison and ordered to repay Continental $558,000 and Harvey $25,000. Tiefel has to report to the Bureau of Prisons on June 8.

A U.S. District Court jury found Wooldridge guilty in January of mail fraud conspiracy but not guilty of credit card fraud.

A sentencing date for Wooldridge hasn’t been set yet.  

 

 

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