Body Armor war profiteer caught looting company treasury

Coexist

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Fri Oct-26-07 04:53 PM
Original message

Body Armor war profiteer caught looting company treasury

to pay for $10 million Bat Mitvah.

The elaborate scheme exploded yesterday when federal prosecutors unsealed a 21-count indictment accusing Brooks, 53, of securities fraud, insider trading, tax evasion and obstruction of justice. If convicted, he could spend the rest of his life behind bars.

<snip>
According to the indictment, Brooks lined his pockets by having DHB underwrite his lifestyle and by artificially inflating the value of company stock.

He allegedly reaped $185 million by selling DHB stock when he learned that 6,000 bullet-proof vests the company made were about to be recalled for being faulty and not able to block bullets.

The indictment accuses Brooks and Hatfield of falsely inflating the value of the inventory of DHB's top product, the Interceptor vest, to help meet earnings projections.

the rest...

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GreenPartyVoter

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Fri Oct-26-07 04:56 PM
Response to Original message

1. I think that is an obscene amount of money for a family party. Heck $100,000

is obscene and absurd.

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orpupilofnature57

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Fri Oct-26-07 05:02 PM
Response to Original message

2. The ilk of Prescott ,Poppy and Shrub.

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Initech

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Fri Oct-26-07 05:05 PM
Response to Original message

3. If I worked for a boss like that...

Edited on Fri Oct-26-07 05:06 PM by EOO

I'd get my fellow employees to rise up as one and slay him. Argh, they get away with this shit and don't get punished for it. Look at some of the other shit he bought:

" In addition to the bat mitzvah - which included performances by Aerosmith, 50 Cent, Tom Petty, Kenny G and the Eagles - prosecutors said David Brooks got the firm, DHB Industries, to pay for other goodies.

Among them were a face lift for his ex-wife; vitamins for his stable of 100 horses; pricey vacations; fancy jewels; an armored car; a $194,000 Bentley; and a $100,000 diamond-studded belt buckle.

...

The indictment said the body-armor tycoon spent $122,000 of company cash on iPods and digital cameras for his guests. It also revealed he shelled out $20,000 for leather-bound invitations to his son's bar mitzvah in 2000. "

WHAT THE FUCK DO YOU NEED A $100,000 BELT BUCKLE FOR??????

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Coexist

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Fri Oct-26-07 05:06 PM
Response to Reply #3

4. and where did the company get the cash? Taxpayers.

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Initech

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Fri Oct-26-07 05:08 PM
Response to Reply #4

5. Yeah, this guy joins a long of big spenders though.

And will they get punished for it? Nope.

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shraby

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Fri Oct-26-07 05:29 PM
Response to Reply #3

7. The belt buckle was to wear to the bar mitzvah. LOL

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Initech

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Fri Oct-26-07 06:50 PM
Response to Reply #7

10. Yeah, but a $100,000 belt buckle?

That's obscene. My fucking new car cost $28,000. What the fuck do they need a fucking $100,000 belt buckle for?

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OnceUponTimeOnTheNet

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Fri Oct-26-07 05:14 PM
Response to Original message

6. Some Lady stopped me in a parking lot today, she liked my bumper stickers,

and this must be the story she was talking about. She seemed so happy to find someone to talk to about this administration, even holding up traffic whilst in her car. I should have exchanged phone numbers with her. Damn.

As to the topic, not really surprising. That's really rather sad, isn't it. Not much penetrates anymore.

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flashl

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Fri Oct-26-07 05:55 PM
Response to Original message

8. Do anyone know who he made campaign contributions to? n/t

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monmouth

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Fri Oct-26-07 05:57 PM
Response to Original message

9. I swear Law & Order had a program on this week (repeat) re a guy

who was manufacturing vests for the troops, they were inferior, etc. He went to jail....

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