Conscious Flow Radio

Wednesday, June 18, 2008

'Flight Risk' and 'Dangerous' -- But Judge Loosens Bail For CEO

NEW YORK -- Just days after a convicted CEO faked his own death and fled to avoid prison, a federal judge on Long Island reduced bail conditions for a separate CEO accused of a massive fraud even though prosecutors maintain he is a "flight risk" and "dangerous."
Judge Joanna Seybert reduced restrictive bail conditions for David Brooks, who ran DHB Industries -- a company that sold bulletproof vests to the military.
Brooks is accused of looting funds and committing securities fraud to the tune of hundreds of millions of dollars. Prosecutors said he then funneled his ill-gotten gains to accounts overseas.