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More Testimony At Brooks Trial

Published: March 11, 2010 12:23 pm ET

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The most recent report from the ongoing trial of ex-standardbred horse owner David Brooks outlines alleged schemes which saw him benefit financially from his company.

Books is on trial in Central Islip, New York for having allegedly falsely inflated the worth of his bulletproof vest company, DHB Industries, in a 'pump-and-dump' scenario before personally cashing out to the tune of $185 million.

Newsday.com has reported that Dawn Schlegel, the former Chief Financial Officer for Brooks' DHB Industries, has testified that Brooks had the company pay for numerous seats for various events at Madison Square Garden. In turn, Brooks is alleged to have sold the tickets and pocketed the cash.

According to the report, Schlegel also testified regarding personal expenses that Brooks billed to the company. The report refers a luxury box at MSG, a set of fine china in the six-figure range, and tuition that was paid for one of Brooks' daughters to attend an Atlanta university.

The article goes on to state that Schlegel has also testified regarding DHB Industries' ex-Chief Operating Officer Sandra Hatfield, who is also on trial. Schlegel is reported to have testified that Hatfield received $600,000 to buy a Florida condominium. She also testified that Hatfield's son received $95,000 for apparent legal work, and that her husband received tens of thousands of dollars for legal work, yet Schlegel never saw any invoices.

(With files from newsday.com)

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