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Discussion Starter · #1 ·
Sounds like one hell of a party at least! :)
How do these people get away with this for so [email protected]#$
I wonder how many (probably most) actually get away with it...
I mean.. if you have to be THIS obvious you're stealing to get busted... You almost have to be trying. :flip


http://www.nypost.com/seven/10262007/news/nationalnews/daddys_10m_bad_mitzvah.htm

DADDY'S $10M 'BAD' MITZVAH
PLUNDER RAP FOR GI-ARMOR BOSS
By SELIM ALGAR and ANDY GELLER



BUSTED: David Brooks is led yesterday to court.
October 26, 2007 -- The former CEO of the leading supplier of body armor to U.S. soldiers in Iraq was charged yesterday with looting the company to bankroll a lavish lifestyle that included a $10 million bat mitzvah for his daughter.

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 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.

Sandra Hatfield, 54, the company's former chief operating officer, was hit with similar charges.

Brooks founded DHB, which moved from Westbury, L.I., to Pompano Beach, Fla., last year, and served as its chairman and chief executive officer. He resigned last year as the scandal erupted.

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.

Hatfield, who left the firm in 2005, allegedly made $5 million in the scheme.

Brooks also was accused of evading taxes by giving money to charities he ran.

Brooks made headlines in November 2005, when he rented two floors of the Rainbow Room for the bat mitzvah of his daughter, Elizabeth.

He reportedly sent the company jet to fly Aerosmith in from Pittsburgh, paying them a cool $1 million. In return, they let his nephew play drums.

In honor of the band's appearance, Brooks changed from a black leather suit into a magenta suede biker outfit covered with chains.

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.

Brooks pleaded not guilty at his arraignment in federal court in Central Islip, L.I., and was held without bail pending a hearing Monday.

His lawyer, Paul Shechtman, said Brooks "grew up in Brooklyn and that means he doesn't run away from a fight."

Shechtman asked for bail of a mere $50 million. Prosecutor John Martin asked that no bail be granted, calling Brooks a serious flight risk.

"In my opinion, he will spend the rest of his life in jail," the prosecutor said. "Every couple of months, we uncover new crimes and new frauds he has committed."

Hatfield is expected to be arraigned next week.

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 scheme boosted the company's stock from $2 a share in early 2003 to nearly $20 a share in late 2004.
 

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Discussion Starter · #3 ·
it didn't say that he purposely cut corners or anything with those vests...
but I know those guys are ALL ABOUT bottom line...

It might not be this case.. but I think they should investigate.. and if they catch any of these companies cutting corners to make a bigger buck.. they should be tried for treason and hung from a tree

but... thats just me sitting at a computer and spouting off shit...
 

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They should make products that are the best they can possibly be, figure out the cost and add a fixed percentage profit. Nothing more, nothing less.

I'm sure you've seen the profiteer stories of the useless weapons that were rounded up in our other 'hot spots' then 'sold' to the iraqi army using our money to these third party 'groups' and what they got isn't worth a pile of dung.... All to make a buck.

THIS mentality (I can do it because I can) is what will eventually ruin our country.
 

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Discussion Starter · #6 ·
I can get away with this cuz I am friends with ***
or so and so was chairman of the *** and is now the CEO of our co...
etc etc
govt should not be run like the mafia

and before anyone thinks I am just bushie hating...
he might be the big practitioner of it now.. but he certainly didn't invent it
 

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They should make products that are the best they can possibly be, figure out the cost and add a fixed percentage profit. Nothing more, nothing less.
When a company specializes in a certain product with years of R&D, most larger corporations/governments can not duplicate what these "smaller" companies make.

We've had plenty of larger corporations, including the gov't attempt to make our product and return to us later because they had too much difficulty/couldn't do it the right way. It's a durty job, but someone's gotta do it!
 

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Discussion Starter · #9 ·
When a company specializes in a certain product with years of R&D, most larger corporations/governments can not duplicate what these "smaller" companies make.

We've had plenty of larger corporations, including the gov't attempt to make our product and return to us later because they had too much difficulty/couldn't do it the right way. It's a durty job, but someone's gotta do it!
Completely unrelated.
We aren't talking about the milspec vendor ripping off dragon skins after ripping on them and buying some tests...

We are talking about them saying "this chest piece can be bought for 45 cents in china instead of the 5$ we have been paying for the piece to be handmade here!" "Now we will make $199.55 profit off the govt per unit rather than $195.00 per unit with the $4.55 we are [email protected]#!"

completely different concept.
 
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