Friday, August 16, 2013

The Other David Brooks

For all the understandable fury over rich Wall Street douchebags walking and poor brown people being stopped-and-frisked for sport 20 blocks away, it appears that sometimes the system works, judges judge, prosecutors prosecute and bad guys get marched off the pokey for long stretches of time because they richly deserve it:

David H. Brooks, Founder And Former Chief Executive Officer Of DHB Industries, Inc., Sentenced To 17 Years In Prison For Insider Trading, Fraud, Lying To Auditors And Obstruction Of Justice

August 15, 2013

Brooks Orchestrated Schemes Involving $200 Million, Used Profits to Finance Extravagant Lifestyle, Including Armor-Plated Luxury Car, Plastic Surgery and $100,000 Belt Buckle

Earlier today, in Central Islip, New York, the former Chief Executive Officer of a Long Island-based supplier of body armor to the U.S. military and law enforcement agencies was sentenced to 17 years in prison for his leadership role in a $200 million fraud and obstruction of justice case, to be followed by five years of supervised release.  DHB Industries, Inc. founder David H. Brooks, who was convicted in September 2010 on 14 counts of conspiracy, mail and wire fraud, securities fraud, obstruction of justice, and lying to auditors and subsequently pleaded guilty to conspiracy to defraud the IRS and filing false income tax returns, was also ordered to pay a fine of $8.7 million, and to forfeit approximately $65 million in illegally-gained profits to the United States.  The court will determine the amount Brooks must pay in restitution to the victims of his fraud scheme within 90 days.  The sentence was imposed by United States District Judge Joanna Seybert.
The sentence was announced by Loretta E. Lynch, United States Attorney for the Eastern District of New York; George Venizelos, Assistant Director-in-Charge, Federal Bureau of Investigation, New York Field Office (FBI); and Richard Weber, Chief, Criminal Investigation, Internal Revenue Service (IRS).
“DHB Industries made body armor that protected the men and women of the U.S. military, who risk their lives to keep us safe.  To David Brooks, it was merely a vehicle for plunder and a means to feed his own greed.  Brooks fancied himself a master of the sport of kings.  In reality, he was a selfish man who looted his company, defrauded his investors, lied to the SEC and the investing public, and sought to profit through insider trading right before the collapse of his house of cards.  And he demonstrated time and time again that he believes he is above the law.  Today, David Brooks learned otherwise,” stated United States Attorney Lynch.   “Thanks to the hard work and dedication of law enforcement, the investing public can rest easier knowing that for the next 17 years, Brooks will not be able to lie, cheat and steal from anyone else.”  Ms. Lynch thanked the FBI and IRS for leading the investigation and the Defense Criminal Investigative Service for its assistance in the case...

1 comment:

Anonymous said...

One down. Countless to go.