Former Blues Owner Turns Self In

1 decade 1 year 4 months ago Friday, July 20 2007 Jul 20, 2007 Friday, July 20, 2007 2:28:19 PM CDT July 20, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
ST. LOUIS (AP) - Former St. Louis Blues owner Michael Shanahan Senior and his son turn themselves in to federal authorities. Michael Shanahan Senior and Junior both face 12 counts of securities violations, fraud and conspiracy. They turned themselves in today. Shanahan Senior is the former chief executive officer of the defense contractor Engineered Support Systems; his son was a member of the board. Also charged is Gary Gerhardt, former chief financial officer at Engineered Support, a suburban St. Louis-based company acquired last year by DRS Technologies. Regulators accuse the men of backdating stock options in a scheme they claim enriched executives and board members by nearly 20 million dollars. The men claim they did not knowingly do anything wrong.

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