Owner of California Bond Company Indicted for Defrauding Trust Funds for Motor Carriers
On January 24, 2014, Bonnie Warren, owner of Oasis Capital, Inc. (Oasis), of Fullerton, California, was indicted in U.S. District Court, Los Angeles, California, in connection with a fraudulent trust fund scheme.
Our investigation was initiated after the Federal Motor Carrier Safety Administration (FMCSA) referred allegations 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 in the amount of $10,000 each to establish trust funds only to use the monies for other purposes. FMCSA suspended Oasis' privileges to file trust funds on behalf of brokers in January 2010 and began the process of revoking the approximately 500 Oasis trust funds on file with FMCSA.
Note: Indictments, informations, and criminal complaints are accusations by the Government. All defendants are presumed innocent unless and until proven guilty.