Speedo Dives In... Simon Doonan Back for Night of the Stars...

Speedo is taking issue with FINA's decision to ban its LZR Racer suit.

JERSEY NOISE: When the informant at the heart of a years-long probe into money laundering operations in Brooklyn and New Jersey needed to explain his sudden cash flow to its targets, he dropped two names: Gucci and Prada. According to court documents, the cooperating witness in the multipronged investigation, which last week resulted in the arrest of several businessmen, rabbis and New Jersey politicians, used a nonexistent counterfeit handbag business to gain several defendants’ trust. Of the 44 people arrested in the sting on Thursday, 15 face charges related to money laundering. Criminal complaints related to those arrests show that the FBI provided its witness tens of thousands of dollars, which he then gave to the defendants to launder. “We make ’em, we ship ’em, and we make money.…The money comes into New York and we ship it overseas to another bank — we wire it,” the witness told one suspect of his Brooklyn handbag operation. The U.S. Attorney’s Office in Newark confirmed Friday there were never any knockoffs. Still, the complaints show the witness took to his imaginary backstory with aplomb, even providing the occasional retail insight. “The business is very good now because the market’s down — economy’s down, and everyone wants to buy. Instead of spending $1,000 for a Prada bag, we sell it for $200; Gucci bag, $300. It’s $1,200 in the store,” he said in a June 2008 exchange. The government source is reported to be 36-year-old Solomon Dwek, the son of a prominent rabbi in the Syrian Jewish community in Deal, N.J. According to court records, Dwek was arrested in 2006 after he bounced a $25 million check at a New Jersey bank.


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