The owner of a California freight brokerage firm has been indicted for fraud.
According to the Department of Transportation, Bonnie Warren, owner of Oasis Capital, Inc. (Oasis) is accused of violating FMCSA regulations by accepting money from property brokers for the establishment of trust funds and allegedly misusing the money.
“Trust fund monies are supposed to be maintained for the purpose of providing payments to shippers or motor carriers in cases where the broker fails to carry out its contract to provide transportation services by authorized motor carriers,” the Office of the Inspector General stated.
Oasis is accused of soliciting brokers and accepting $10,000 payments to establish trust funds. The money was then used the money for other purposes.
In 2010, the FMCSA suspended Oasis’ privileges to file trust funds. The FMCSA then began the process of revoking 500 Oasis trust funds on file with the FMCSA.