Ex-T-shirt exec Douglas Dey admits bribery
A onetime North Fork T-shirt mogul pleaded guilty Thursday to bribing a top Aeropostale official for more than a decade in a scheme that allegedly netted his company $350 million in sales as a supplier.
Douglas Dey, 55, a former Southold resident who ran South Bay Apparel of Calverton, admitted that he split his company's profits with Aeropostale executive Christopher Finazzo to guarantee a piece of the mall store's growth spiral during the 1990s and 2000s.
"I understood and intended that sharing the profits would influence him in allowing me to get and to keep the Aeropostale business," said Dey, now of Manhattan, during his plea in federal court in Brooklyn. "I understand that my arrangements to share the profits with Mr. Finazzo were wrong." Dey, listed on the film site IMDb.com as executive producer of the 2010 movie "Blue Valentine," faces up to five years in prison for conspiracy. He also agreed to forfeit property worth $7.5 million during his plea before U.S. District Judge Roslynn Mauskopf. No date has been set for his sentencing.
Finazzo, a former executive vice president and chief merchandising officer at Aeropostale, left the company in 2006 after earning $14 million in his last eight years, according to his indictment. His trial is scheduled to begin on Nov. 12.
Dey said that he and Finazzo, 56, of Garden City, were partners in a marketing company that made T-shirts with graphic designs before Finazzo was hired by Aeropostale in 1996.
The two were indicted in 2010. The government charged that they shared $14 million in profits from the bribery scheme.