Quantcast

SEC charges ex-execs of body armor supplier

August 17, 2006

WASHINGTON (Reuters) – The U.S. Securities and Exchange
Commission said on Thursday it filed securities fraud charges
against two former executives of a major supplier of body armor
to the military and law enforcement agencies.

The SEC said it charged Dawn Schlegel and Sandra Hatfield,
former officers of DHB Industries Inc., alleging they
“routinely overstated the value of the company’s inventory and
directed the booking of numerous fraudulent journal entries in
order to reduce the company’s cost of goods sold.”

Attorneys for the two former DHB executives could not
immediately be reached for comment.


Source: reuters



comments powered by Disqus