If an employee makes a justifiable mistake, can a manager inflict a monetary fine on the senior employee who is in charge?

An employee was recently wrongfully terminated. That employee complained to the labor board. The labor board contacted the president of the company. The president of the company claims that the employee was terminated due to employee theft. I know for a fact that this is not true. What should I do in this case? Should I contact the labor board myself to let them know of the outright injustices done to that employee?

I work 6 days a week. My total hours are more than 40 hours per week. Can an employer claim that they do not have to pay overtime because they say that I am salaried?