SpongeBob product execs strike with shower charges

Mr. Krabs competence have a little foe in the money-grubbing department.Top management team of a organisation that creates a SpongeBob SquarePants bath product were arrested Wednesday on rascal charges.SpongeTech CEO Michael Metter and Chief Financial Officer Steven Moskowitz allegedly falsified sales of soap-filled sponges to progress the companys bottom line.And after they conned investors with the pump-and-dump scheme, they attempted to put one over on the Securities and Exchange Commission, Brooklyn sovereign prosecutor Jeffrey Goldberg said.The execs reported millions in of doubtful authenticity sales going behind to Jan 2007. When the SEC strike the organisation with subpoenas, Metter and Moskowitz attempted to fashion five customers, according to a rapist complaint.They allegedly combined fraudulent squeeze orders, Web sites and practical offices for the business - who were about as genuine as a pineapple underneath the sea.Metter, 58, of Greenwich, Conn., and Moskowitz, 45, of Queens, were expelled on $2 million bail. Each faces up to five years in jail if convicted.Earlier this year, the Mets sued SpongeTech, observant it bounced $400,000 in checks for $2.3 million value of ads at Citi Field.
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