On December 5, 2019, the Securities and Exchange Commission (SEC) charged two top executives of Celadon Group, Inc., an Indiana-based trucking company, for their participation in an accounting fraud. The SEC alleged that “they sought to conceal losses by engaging in a scheme to buy and sell trucks at inflated prices, in some cases double or triple their fair market value . . . As alleged in our complaint, these members of Celadon’s C-suite lied to its auditor and investors to try to conceal millions of dollars of overvalued trucks,” said Joel R. Levin, Director of the SEC’s Chicago Regional Office. “The SEC will continue to pursue corporate officers who employ schemes to inflate financial statements and defraud investors.” Epilogue: On December 9, 2019, Celadon Group, Inc., filed for bankruptcy and in March 2020, it auctioned off assets as part of the bankruptcy agreement.

Required:
1. Describe the parties who were harmed or helped by this fraud.
2. Explain how greed may have contributed to the fraud.