On October 31, 2003, ISHN.com posted the following article titled, "Glove maker pleads guilty to fraud charge." It is important to note this updated correction provided by Magid Glove: Magid did not plead guilty to fraudulently overcharging customers millions of dollars; the plea was for one shipment to the U.S. Postal Service for $259.23. The government's best estimate was that customers had been overcharged $75,000 over an eight-year period (rather than the "millions of dollars" referenced in the original article). Magid, in fact, did not plead guilty to the estimated overcharges.
â€œMagid Glove & Safety Manufacturing Co., a Chicago manufacturer of industrial work gloves, protective clothing and other safety equipment, pleaded guilty this week to a federal criminal fraud charge for overcharging millions of dollars for inferior products, according to an article in the Chicago Tribune.