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  "documentTitle": "XPO Logistics, Inc. (XPO)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-12-13 00:00:00",
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  "notes": "Uses a screenshot of an interview to frame a contradiction between his public persona and legal status.",
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      "kind": "callout",
      "text": "How was Milne earning income and spending on luxury services, and why would he rather go back to jail than to pay restitution? Is there more to the story?",
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      "text": "John Milne, former President and CFO of United Rentals, was sentenced to 27 months in prison for conspiring to falsify books and records in March 2010 and was ordered to pay financial restitution. (1) Earlier this year in April 2018, Milne was ordered back to prison for failing to paying back the money, despite the court’s belief he had capacity to do so. (2) In the interim, he acted as a financial consultant on various “private placement” transactions for XPO’s Director G.C. Andersen.",
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      "text": "Since his release from prison in May 2012, MILNE has paid approximately $500,000 of the $5.25 million of disgorgement that was due. Chief Judge Hall found that, based on MILNE’s income and expenditures on luxury services, he had the ability to pay much more. The Court had previously continued the hearing on multiple occasions to provide MILNE the opportunity to make additional disgorgement payments, but he repeatedly failed to do so.",
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      "text": "\"Since his release from prison in May 2012, MILNE has paid approximately $500,000 of the $5.25 million of disgorgement that was due. Chief Judge Hall found that, based on MILNE’s income and expenditures on luxury services, he had the ability to pay much more. The Court had previously continued the hearing on multiple occasions to provide MILNE the opportunity to make additional disgorgement payments, but he repeatedly failed to do so.\" — Chief Judge Hall",
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      "kind": "source-note",
      "text": "Source: Rental Equipment Register, \"Capitalizing for the Future: A Q&A with United Rentals co-Founder John Milne\", Feb 20, 2015. 1) Former United Rentals President and CFO Sentenced to 27 Months in Prison for Falsifying Company Books, FBI.gov. 2) Former Rental Company Executive Sentenced to 2 Years in Prison for Violating Supervised Release, Dept. of Justice",
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      "text": "\"JM\" = John Milne = Convicted Felon, Former United Rentals Executive",
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