A Shelby County grand jury has returned a revised indictment against Bernard Panchikal, controlling shareholder of CTK Inc.
Until July, CTK and related businesses represented Toyota Material Handling USA Inc in the USA's mid-south region, including portions of Tennessee, Mississippi and Arkansas.
A county attorney's technical error and a county clerk's input error necessitated the revision. Mr Panchikal is scheduled for a December 18 hearing in Shelby County Criminal Court in Memphis.
On August 19, a jury returned the same basic two-count indictment alleging Mr Panchikal filed a false police report and a fraudulent insurance claim of more than USD10,000 with the Nashville, Tennessee, regional office of CNA Insurance Co. The penalty for an insurance fraud conviction is three to six years in prison.
Conviction for a false report carries a penalty of two to four years. Handling the case is Linda Kirklen, chief prosecutor with the Shelby County District attorney general's fraud and economic crime unit.