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Posts Tagged ‘Sabre Defence’

Updated – Sabre Defence Owner Indicted

Thursday, February 10th, 2011

Well, this might have something to do with Sabre Defence being up for sale by their creditors. According to KNOX News, Sabre’s Owner, Guy Savage (this has got to be a pseudonym) was indicted by a Federal grand jury along with five four employees on Tuesday.

It turns out that the ATF raid last year was looking for employee criminal activity. The irony is that at the time Savage released a statement explaining that the ATF raid was looking for unauthorized transfers of weapons by employees. Turns out he was right, except that he and five four of his lieutenants were the employees the ATF was looking for. Specifically, the 21-count indictment alleges they conspired to illegally import and export firearms and components to and from the United States in violation of the Arms Export Control Act.

UpdateHere is a link to information from the Dept of Justice on the case.

Sabre Defence for Sale to Highest Bidder

Monday, February 7th, 2011

Just shy of a year after being raided by the ATF, Sabre Defence Industries is being offered for sale by creditors. The ATF raid was connected to allegations against individual employees rather than the firm itself, but it wasn’t the first or last time the company had been in controversy. In late 2009 they were sued by a sub-contractor for non-payment for M2 machine gun bolts. Then, late last year, they lost the license to produce the AUGA3 from Steyr.

We don’t know which if any of these unfortunate events are to blame for the demise of Sabre Defence but it is currently being offered for sale under an Article 9 Foreclosure which is generally considered a friendly foreclosure. Interested parties have until 14 February to bid but you have to be serious as the creditor is asking for a $100k deposit in order to bid.

Full details of the sale are available at sabresale.com.

Interestingly, the Sabre Defence website is still working. www.sabredefence.com