A federal appellate court has upheld the conviction of ex-Roadrunner Transportation Systems CFO Peter Armbruster for his role in a securities and accounting fraud scheme that cost its shareholders $245 million.
The 7th Circuit U.S. Court of Appeals’ three-judge panel wrote in the opinion that there was “no reason to second-guess the jury’s decision.” Armbruster, 63, of Milwaukee, was sentenced to two years in prison in November 2021 by U.S. District Judge Matthew F. Kennelly.
The jury rendered...