David Brooks has been ordered jailed without bail through the course of his upcoming trial for violations regarding his DHB Industries
. Brooks had been on house arrest since January of 2008 after his indictment on federal charges.
Federal judge Joanna Seybert revoked Brooks’ bail last week after an FBI agent filed an affidavit alleging that Brooks and his brother Jeffrey had hidden millions of dollars in San Marino, London and Switzerland. The terms of Brooks’ bail required him and his brother to disclose all assets and return them to the U.S.
Seybert said she would not immediately order seizure of the $26.5 million put up by Brooks against a $400 million bond. She may consider releasing some of it to allow Brooks to pay legal bills and may release more if the brothers account for all their assets. She declined prosecutors’ request to force payment of the entire bond, saying that terms of the bond required payment if Brooks fled. Prosecutors argued that concealment of the assets was part of a plot to flee.
Jury selection for the trial is scheduled to start this week.
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. His trial is being held in U.S. District Court on Long Island.
Brooks’ brother, Jeffrey, races under the Bulletproof Enterprises stable name. Bulletproof Enterprises owns more than 400 horses, including Yellow Diamond, If I Can Dream, Not Enough and Showherthemoney.
This story courtesy of Harness Racing Communications, a division of the U.S. Trotting Association. For more information, visit www.ustrotting.com.