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Spectrum Brand Corp. Owners Arrested

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NEW YORK, Dec. 13 -- Four businessmen associated with Spectrum Brand Corp. and Spectrum Homeland Security Solutions Inc. were accused Tuesday of exploiting fears about bioterrorism and inflating stock prices by marketing a handheld gadget their company claimed could kill anthrax, according to an Associated Press (AP) story. The AP reported Wednesday that Michael J. Burns, president of Spectrum Brand Corp., and Saverio Galasso were arrested Tuesday on charges of conspiracy to commit securities fraud. According to the article, "Two federal complaints unsealed Tuesday allege the plot was hatched...Read full article

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    Published: December 2001
    defenseNews & Features

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