DHB

[boatguy]

Good news 

Now DHBT after being delisted-  up 12% to 1.54

On July 7, 2006, the Board of Directors of DHB Industries, Inc. (the "Company"), placed David Brooks, the Company's Chairman and Chief Executive Officer, on paid administrative leave for an indefinite period of time and pending the outcome of federal, state and internal investigations. Mr. Brooks remains a director.

http://biz.yahoo.com/e/060710/dhbt.pk8-k.html

The Rise and Fall of a War Profiteer:

http://www.alternet.org/module/printversion/38867

[boatguy]

Traitors to their country and traitors to their shareholders - going DOWN

Two former body armor company execs indicted for insider trading, fraud

http://www.trentonian.com/WebApp/appmanager/JRC/Daily?_nfpb=true&_pageLabel=pg_article&r21.pgpath=%2FTRN%2FHome&r21.content=%2FTRN%2FHome%2FTopStoryList_Story_795906

[boatguy]

DHB living the high life!!

'Flight Risk' and 'Dangerous' -- But Judge Loosens Bail For CEO
By Jonathan Dienst

http://www.wnbc.com/investigations/16634682/detail.html


NEW YORK -- Just days after a convicted CEO faked his own death and fled to avoid prison, a federal judge on Long Island reduced bail conditions for a separate CEO accused of a massive fraud even though prosecutors maintain he is a "flight risk" and "dangerous."

Judge Joanna Seybert reduced restrictive bail conditions for David Brooks, who ran DHB Industries -- a company that sold bulletproof vests to the military.

Brooks is accused of looting funds and committing securities fraud to the tune of hundreds of millions of dollars. Prosecutors said he then funneled his ill-gotten gains to accounts overseas.

Even though Seybert called Brooks a "danger to the community" because of past threats he allegedly made, she agreed to loosen his home confinement. Her new order allows Brooks to leave his Manhattan home unescorted between the hours of 9 a.m. and 10 p.m.

She said he can leave for medical visits, business meetings, religious services and meetings with his lawyers. Seybert said Brooks must still wear an ankle bracelet. Previously, Brooks was restricted to home confinement. Guards were ordered posted at his home 24 hours a day. He has pleaded not guilty and secured his $400 million bail with $48 million.

After holding a new round of hearings, the judge called Brooks a "minor flight risk." She added there remains a "risk of an obstruction of justice and danger to society." Seybert said under the law, she was required to impose the "least restrictive measures" to try to ensure Brooks will show up for court.

While Brooks did transfer cash to the United Kingdom, Senegal and Switzerland, the judge said she is satisfied with his explanations as to why so much money was sent overseas.

"Brooks disclosed his assets, presented he was renting rather than purchasing a home in England, transferred money in Switzerland back to the United States, and explained that the funds sent to Senegal were payment for certain religious services," she wrote. These new explanations convinced her Brooks is not significant flight risk as first believed, she wrote.

Seybert's ruling came after motions by Brooks' new lawyer seeking less restrictive bail conditions. That lawyer is former federal Judge Herbert J. Stern, who did not return a call for comment. A spokesman for U.S. Attorney Benton Campbell declined comment. A clerk for Seybert said she will not comment beyond her written ruling.

Brooks was arrested last October on charges he took part in an alleged "pump and dump" scheme. He made headlines in 2005 for the $10 million bat mitzvah he threw for his daughter at New York's Rainbow Room. Performers included the rock band Aerosmith as Brooks danced in a hot-pink outfit. In addition to allegedly reaping $200 million through illegal trades, investigators said Brooks spent company dollars on his personal horse racing business, luxury vacations and cosmetic surgery for relatives.

His reduced bail conditions come just days after convicted Bayou hedge fund CEO Samuel Israel fled. U.S. marshals said Israel faked his own death, pretending to jump off the Bear Mountain Bridge. Marshals and FBI agents are looking for Israel who is now believed to be on the run in an RV/motor-home type vehicle.

Federal Judge Colleen McMahon in White Plains had allowed Israel to turn himself in unescorted to the Federal Bureau of Prisons to begin serving his 20-year sentence. Israel never showed.

Other corporate fugitives from the New York area include Kobi Alexander, the former head of Comverse Technologies who fled to Namibia to avoid prosecution in his backdating of stock options case, prosecutors said. Also, the former head of Symbol Technologies, Tomo Razmilovic, fled to an oceanfront Villa in Sweden to avoid trial on charges he stole millions from his company.

As for Brooks, prosecutors asked that his bail conditions remain strict calling him a "flight risk" who has "the potential to obstruct justice and threaten witnesses."

The judge acknowledged Brooks has the means and sophistication to "relocate quickly to a foreign country." The judge also said Brooks had threatened former business associates. She even voiced suspicion that Brooks tried to hack into a computer more than 20 times in violation of his bail conditions. She said these examples show why Brooks can't be "unconditionally released."

Brooks must continue to pay for the costs of his electronic bracelet as well as for a security firm that will monitor his phone calls, the judge said. Under Seybert's order, Brooks can begin leaving his home starting Wednesday.