A Small Bit Of Justice
While it would have been nice to see an indictment for war profiteering, the Hedgemony didn’t get upset with these people until they learned that they ripped off the investor-class as well as the troops.
Body Armor Execs Indicted For Fraud
(AP) Two former top executives of the leading supplier of body armor to the U.S. military were indicted Thursday on charges of insider trading, fraud and tax evasion in a scheme that netted them nearly $200 million, federal prosecutors said.
David H. Brooks, 53, the former CEO of DHB Industries Inc., and Sandra Hatfield, 54, the former chief operating officer, were charged in a superseding indictment with manipulating DHB’s financial records to increase earnings and profit margins, thereby inflating the price of DHB’s stock.
DHB Industries made millions off their single-source contract for military body armor, some of which was definitely not up to specifications, but ripping off Wall Street is the only reason for an indictment anymore.
7 comments
Pretty bad when American soldiers are dying and being severely wounded by shoddy body armor and no one pays(well we pay for more and more shitty armor) but nothing happens to the perps until they starting impacting the profits of the fat cats. Pretty disgraceful.
This is personal because I spent a lot of time researching body armor before I shelled out for mine, and at the time Point Blank was the best around. They have let standards slide to boost profits.
The department contract was for Second Chance, but that vest had no side protection, and you normally have your side facing the “bad guys” when you are firing, so I bought my own.
America has become a Kleptocracy.
The thing that really gets me, is that they think they deserve it. They blow 8 million on a party, and have no problem replacing quality materials with junk to save a dollar a unit.
They don’t care about any of that. They just want the paycheck.
All the rest of it is bullshit they have to pretend to care about.
Actually, Whig, these people are never satisfied with the overly generous paychecks, they always want to steal more than their contracts call for.