Thursday, August 17, 2006

CorruptCo Update

Two former executives at DHB Industries were arrested today on charges they manipulated the books to make millions of dollars in inside trading. Faithful readers of this blog (both of you) may remember them from the Corruptco blogfest piece I did on them in February of this year, And Then He Changed Into A Pink Leather Outfit For Aerosmith, which was about DHB Industries CEO, David Brooks and the lavish bat mitzvah he through for his daughter. David Brooks has been placed on indefinite leave by the ASE pending the outcome of investigations.
The two executives, Chief Financial Officer Dawn Shlegel and Chief Operating Officer Sandra Hatfield, inflated DHB earnings and profit margins between 2003 and 2005. They then sold thousands of shares based on inside information, netting a cool $8 million. Which is not as much as the CEO spent on his daughter's party, but enough to get them thrown in the clink for up to twenty five years (as if), while they'll probably go the Ken Lay route and spend all the money they bilked the investing public out of to keep themselves free on appeal until all their money's gone, or they croak from a heart attack at the prospect of actually having to bear punishment for breaking the law.

12 comments:

DivaJood said...

Well, they could don one of their flawed flak jackets and be shipped off to Iraq. That would work.

GraemeAnfinson said...

hell yeah. ship these bastards to Iraq. their children too

sumo said...

Tar and feather them when they get there...then put the flawed flak jackets on them.

Tina said...

Hey now... hands off of the sainted Ken Lay. You all remember how that black pastor in TX compared Lay--in his eulogy-- to that poor persecuted black man named Byrd who was beaten by white supremacists, chained to a pickup truck and drug around til death relieved his agony... banging head on keyboard... must. escape. insanity. in. America.

Left of Center said...

at least white collar crime isnt an enterprise undertaken entirely by men.

glenda said...

Well, there you have it. proof that a small percentage get what they deserve!

karena said...

Okay, I also say screw Stevie Nicks, Joe Walsh, Tom Petty, Don Henley, Steve Tyler and all the other sick f--ks who crave money so badly they play at batmitzvahs for war profiteers. I boycott them all. Money is not just money, some of it is blood money.

Stevie Nicks said she quit taking all those drugs when she finally realized they were killing her and she wanted to be around to "rock a little more." Well, I have an idea for her. I say send them all off to jail with the egomaniac who hired them and contributed to the deaths of soldiers and make them play their music 24/7 until they all go batshit crazier then they already are. Then they can all go on a hunger strike and eventually do themselves in as a PR statement of asymetrical war. Okay, I will stop now.

dusty said...

Ship them to Iraq, drop them in the middle of Baghdad with only the clothes on their backs..if the a-holes make it to the embassy..they can live.

Ron Nasty said...

Dusty, they shouldn't drop 'em naked, make 'em wear the malfunctioning body armor they sold the government!

Kathy said...

I hope all three of them go to jail for the full 25 years. Martha got less than a year for a measly $40 or $50 thousand so millions of $$$ should demand at least that much time.

Sadly, I'm afraid your "as if" is right on target.

Lily said...

I love that, Dusty!

Darius said...

It just goes on and on. I think if we wait for current political conditions to seriously "get tough" on wealthy schemers we have a very long wait. Meanwhile one thing or another will just keep popping up first here now there; first cheating people this way then that way...

Attitudes that I once would have labeled cynical have simply become realistic.