Family values! Uncle Bucky Bush linked to $6M options SCHEME

[Bluebear]

WASHINGTON -- President Bush's uncle William H.T. Bush was among a group of directors of a defense contractor who reaped $6 million from what federal regulators say was an illegal five-year scheme by two company executives to manipulate the timing of stock option grants, documents show.

Bush, known as "Bucky," is the youngest brother of former President George H.W. Bush. He was an outside, non-executive director of Engineered Support Systems Inc., a defense contractor whose profits were bolstered because of the Iraq war. The St. Louis-based firm, a supplier of equipment to the military that was acquired last year by another defense contractor, has been under investigation by federal prosecutors and the Securities and Exchange Commission concerning the alleged options backdating scheme.

Bush and the others who sat on the board of Engineered Support Systems, known as ESSI, were not accused of any wrongdoing in the SEC's civil lawsuit filed Tuesday against the company's former chief financial officer and former controller, accusing them of enriching themselves and others with the backdating scheme. Bush made about $450,000 selling some of the stock in 2005...

"The company never disclosed to shareholders that it had awarded this additional compensation," said the suit filed in federal court in St. Louis. The directors "realized approximately $6 million in unauthorized compensation from the exercise of their additional stock options," it said.

http://www.suburbanchicagonews.com/beaconnews/business/249981,2_3_AU09_BUSHUNCLE_S1.article

[Amonester]

1. Bu$che

is their real family name.

Fraud$ and creating deadly di$a$ter$ are their only skills.

[Gidney N Cloyd]

2. $6Mil=chicken feed. That's probably just what they left out in the open as a decoy.

[Dracos]

3. This was reported yesterday

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=161313&mesg_id=161313
The entire family is crooked.