From Yahoo Finance: 2025-04-03 15:52:00

Landstar System Inc. is facing a supply chain fraud investigation, impacting its Q1 2025 earnings guidance. The company expects a financial hit of $12.5-$17.9 million, lowering EPS by 35-50 cents. Landstar also reported increased insurance and claims costs, along with a decrease in loads hauled and varying revenue per load in 2025.

In Tennessee, a fraudulent trucking company stole 80,000 pounds of beef worth $350,000 from Southeastern Provisions. The theft was discovered when shipments went missing after being subcontracted to “List Trucking Sales,” whose dispatcher, “Ahmed Wengy,” disappeared. The stolen loads’ current location remains unknown, raising concerns.

Memphis police reported a significant drop in business burglaries and cargo thefts in 2025, with commercial thefts down 40% from the previous year. Cargo thefts from train cars fell by 73%, and thefts from tractor-trailers decreased by 46%. Improved communication and strategic measures are credited for the decline.

Freight fraud has become a critical issue impacting the industry, prompting the need for collective action. The Freight Fraud Symposium on May 14 in Dallas aims to address this problem by bringing together transportation leaders and technology buyers to share insights and discuss solutions. Register now to participate in this important event.



Read more at Yahoo Finance: Landstar anticipates fraud-related earnings hit