August 17, 2006
SEC charges ex-execs of body armor supplier
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."
immediately be reached for comment.