USProtect story keeps getting more bizarre

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03/21/2008
USProtect is turning into a car accident by the side of the road. I've just got to slow down and take a look. I can't help myself. Here are some new details from Forbes: Judge Thomas J. Catliota of the U.S. Bankruptcy Court in Greenbelt, Md., on Wednesday ordered an interim trustee to take over the operations of USProtect, which provided security guards to federal office buildings and courthouses. Wachovia Bank had asked for the judge to step in, claiming USProtect's management was "nonexistent" after the company's owner fired its accountant and financial advisers last week and several other key executives resigned. How'd you like to be Wachovia, owed $15 million by a bunch of crooks? Then again, $15 million is probably chump change for Wachovia. And I know USProtect got these contracts through bribes and all, but was anybody in the federal government paying attention to whom they were doing business with? The bank claims Hudec paid herself more than $5 million in salary while acting solely in a "figurehead capacity" as chairman of USProtect's board. These people reprehensible, suckling at the teat of the taxpayers. I sort of hate them.