Imagine what it would have cost if he had hired Menudo?
DADDY’S $10M ‘BAD’ MITZVAH
By SELIM ALGAR and ANDY GELLER
New York Post
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.
*
New York Post
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.
—
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.
***
I did a story on this subject in January, 2007
Arrowsmith, 50 Cent, Chain Mail
National Briefing | Washington: Washington: Military Body Armor Recalled
“The Army and Marine Corps said they had ordered the recall of 18,000 torso-protecting vests, some used by American troops in Iraq, after determining that the body armor failed to meet ballistic specifications. Military officials insisted that troops had never been put at risk. The vests, designed to prevent or minimize torso wounds, were made by Point Blank Body Armor Inc. of Pompano Beach, Fla., military officials said. Officials with Point Blank’s parent company, DHB Industries Inc., did not immediately return calls seeking comment.”
On January 2, 2006 The New York Times‘ lead editorial was entitled Another Marie Antoinette Momment. The International Herald Tribune reprinted it.
Throughout January, The New York Times has run more stories on this important issue. (In case
90% of the cable news producers are reading this. I wanted to let you know that many stories
rate follow-up pieces–not just unfortunate, missing person cases, the break-up of Hollywood marriages and the use of the Dr. Brazelton approach for rearing Pandas.)
Meanwhile, I went to the DHB Industries where a flashing link connected me to their online store which featured t-shirts, baseball caps, knee braces and the like. I would have thought that a body armor business would sell more exotic products through its online store.
Therefore, I make the following suggestions for new products next year.
Thanks to Gungfu.com. Goldfinger, The Prisoner.