Owner of Oasis Capital, Inc. Sentenced
The U.S. District Court of Los Angeles, California recently sentenced Ms. Bonnie Warren, Owner of Oasis Capital, Inc. to four months home confinement and two years of probation. Previously, she was indicted in January 2014 and pleaded guilty to wire fraud in May 2015. The U.S Department of Transportation Office of Inspector General (DOT IG) conducted the investigation with the Federal Bureau of Investigation (FBI).
The DOT IG initiated the investigation into Oasis Capital, Inc. after TIA alerted the Federal Motor Carrier Safety Administration (FMCSA) that Oasis was violating FMCSA regulations by accepting money from property brokers for the establishment of trust funds and actually using the money for other purposes. 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. Oasis solicited brokers and accepted payments to establish trust funds only to use the monies for other purposes. In January 2010, FMCSA suspended Oasis' privileges to file trust funds on behalf of brokers and began the process of revoking the approximately 500 Oasis trust funds on file with FMCSA.
If you have any questions, contact Chris Burroughs (burroughs@tianet.org, 703.299.5705).
