U.S. authorities arrested two former top executives of a major body armor supplier to the U.S. military and law enforcement agencies on Thursday and charged them with criminal securities fraud and insider trading.
Federal prosecutors alleged former Chief Financial Officer Dawn Schlegel and former Chief Operating Officer Sandra Hatfield manipulated DHB Industries Inc.'s books "to reap millions of dollars of profits through insider trading."
The lawsuit was a fresh blow to DHB. The U.S. military last year recalled thousands of protective vests sold by DHB's Point Blank Body Armor Inc. unit on quality concerns.
The company was recently delisted from the American Stock Exchange. Last month it placed Chief Executive David Brooks on indefinite leave pending the outcome of investigations...http://tinyurl.com/r5ka5
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PS: CEO of DHB, David H Brooks, was the war profiteer who threw a $10 million bat mitzvah for his daughter in November 2005.
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Federal prosecutors alleged former Chief Financial Officer Dawn Schlegel and former Chief Operating Officer Sandra Hatfield manipulated DHB Industries Inc.'s books "to reap millions of dollars of profits through insider trading."
The lawsuit was a fresh blow to DHB. The U.S. military last year recalled thousands of protective vests sold by DHB's Point Blank Body Armor Inc. unit on quality concerns.
The company was recently delisted from the American Stock Exchange. Last month it placed Chief Executive David Brooks on indefinite leave pending the outcome of investigations...http://tinyurl.com/r5ka5
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PS: CEO of DHB, David H Brooks, was the war profiteer who threw a $10 million bat mitzvah for his daughter in November 2005.
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posted by Dan at 7:26 PM
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