Ex-CFO Dawn Schlegel
Posted on 08/18/2006 3:48:20 AM PDT by Liz
Ex-CFO Dawn Schlegel
Two women who were once top executives at DHB Industries were arrested yesterday on charges they made millions in ill-gotten gains by cooking the books of the company, which supplies body armor to U.S. troops in Iraq and Afghanistan. Dawn Schlegel, DHB's chief financial officer until she resigned early this year, and Sandra Hatfield, the company's chief operating officer before she stepped down late last year, turned themselves in to FBI agents in Melville, L.I., early yesterday.
U.S. prosecutors in Brooklyn said they're still investigating DHB, which last month reached a $35 million settlement with irate investors who accused executives of running a pump-and-dump scheme.
The shareholder suit alleged that DHB founder David Brooks unloaded $186 million worth of his own shares when he learned that bullet-proof vests made by his company were going to be recalled for failing to block bullets. He resigned as chairman and chief executive as part of the settlement and the company relocated from Long Island to Pompano Beach, Fla., where its subsidiary Point Blank Body Armor is based.
Brooks - who also caught flak in November for throwing an extravagant $10 million Rainbow Room bat mitzvah for his daughter, featuring rapper 50-Cent, Kenny G and other big-name stars - wasn't named in yesterday's complaint. But legal experts believe investigators may be setting their sights on him by arresting his two deputies. U.S. Attorney Office spokesman Robert Nardoza declined to comment, except to say that the investigation continues.
(Excerpt) Read more at nypost.com ...
So when did Long Island become a state?
"So when did Long Island become a state?"
Long Island is a state? I thought I wrote New York. Ahh.. I added Long Island after it to say what L.I. was.
There is also no Long Island, NY. It would be Melville, New York.
Put them in their useless vests and place them in front of a firing squad.
Okay by me.
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