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Former Southold Resident 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, a former Southold resident 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 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.

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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