from the USTA Communications Department

Columbus, OH — David Brooks, a former Standardbred owner, was convicted of all 17 counts against him at a massive stock fraud trial in federal court in New York on Tuesday, Sept. 14.

According to a Newsday report, Brooks’ co-defendant, Sandra Hatfield, was found guilty of 14 of the 16 counts against her. They were each charged in a 16-count indictment with conspiracy; securities, wire and mail fraud; insider trading; and obstruction of justice. In addition, Brooks was charged with a seventeenth count — lying to auditors.

The trial lasted eight months and the jury deliberated for 14 days.

Brooks was accused of siphoning $6 million from his DHB Industries for purely personal expenses. He was also accused of illegally making $185 million, and Hatfield $6 million, through a stock scheme.

Brooks had built the then-Westbury-based company into a major manufacturer of body armor for the United States military in Iraq and Afghanistan. Hatfield was the chief operating officer.

Brooks, an Old Westbury, N.Y. resident who was involved in harness racing under several stables, most notably Perfect World Enterprises, was indicted in 2007.