Thursday, November 10, 2011
The SEC announced that three former directors of DHB Industries have agreed to more than $1.6 million in monetary sanctions to settle charges that they were involved in an accounting fraud at the major supplier of body armor to the U.S. military and law enforcement agencies. The settlements agreed to by Cary Chasin, Jerome Krantz and Gary Nadelman would impose permanent officer-and-director bars in addition to the monetary sanctions. The settlements are subject to court approval.
DHB Industries is now known as Point Blank Solutions.