LI CEO out on $400M bond in insider trading case

A man charged with stealing $200 million from his Westbury body armor company in an insider trading scam was released on bond Thursday. Prosecutors say David Brooks, the former CEO of DHB Industries,

News 12 Staff

Jan 4, 2008, 12:05 AM

Updated 6,040 days ago

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A man charged with stealing $200 million from his Westbury body armor company in an insider trading scam was released on bond Thursday.
Prosecutors say David Brooks, the former CEO of DHB Industries, used the money to pay for a lavish lifestyle at his Old Westbury home and Manhattan condo. He was arrested in October and remained in the Nassau County Jail since then.
Brooks posted the $400 million bond to get out of jail and await trial. Earlier this week, a judge denied bail for Brooks, calling him a flight risk. In Central Islip Federal Court Thursday, Brooks' attorney convinced prosecutors that they had control of his assets so he could not use them to flee.
Under the terms of the bail release order, Brooks will be held under house arrest at an undisclosed location. He will be under 24-hour armed guard, wear an electronic ankle bracelet and surrender his passport. Brooks will also have limited computer and telephone use.
Brooks' case is expected to go to trial in six months. DHB Industries' former chief operating officer was also indicted. Both face insider trading, fraud and tax evasion charges.


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