Business & Tech

Former Calverton Biz Owner Admits to Bribing Aéropostale Exec

Douglas Dey agreed to forfeit over $7 million in property after profiting off a bribery scheme, according to Newsday.

Douglas Dey, who previously ran Calverton-based South Bay Apparel, pleaded guilty on Thursday to bribing an executive at global clothing brand Aéropostale in a plan that reportedly earned his company hundreds of millions of dollars in sales.

According to Newsday, Dey – formerly of Southold – said he split South Bay's profits making t-shirts during the 1990s and 2000s as the company expanded nationwide. The scheme reportedly netted Dey's company $350 million, and government officials said the plan put $14 million in the pair's pockets.

The report stated that Dey agreed to forfeit property worth $7.5 million, and no date has been set for his sentencing in the U.S. District Court for the Eastern of New York.

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Dey's alleged conspirator, Christopher Finazzo, goes to trial Nov. 12.

Click here to read the entire story on Newsday (subscription required.)

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