Stratesec

Stratesec
Parent organization	Kuwaiti-American Corporation
Type	commercial
Interest of	Kevin Ryan
Exposed by	Margie Burns
Subpage	•Stratesec/CEO
A "security company" which did unspecified security work on the World Trade Center from 1993-2001 and which numbered Marvin bush amongst its directors.

Stratesec (formerly known as Securacom and Burns and Roe Securacom) was a security company founded in 1987 and based out of Woodcliff Lake, New Jersey. The company went public on October 2, 1997 on the American Stock Exchange and was delisted in 2002.

IPO

At IPO in 1997, Securacom listed among its clients Washington Dulles International Airport, Hewlett-Packard, EDS, United Airlines, Gillette, MCI, the World Trade Center, and other facilities including hospitals, prisons, corporations, utilities, universities.

WTC Work

Following the 1993 World Trade Center bombing, the Port Authority of New York and New Jersey began am $8.3 million, multi-year revamp of security in and around the Twin Towers and Buildings 4 and 5. Stratsec (then Securacom) was one of the contractors hired in the upgrade.

Bush Connection

Marvin Bush, son of US president George H.W. Bush, and brother to US president George W. Bush, was on the board of directors from 1993-2000.

1996/7 Clients

Securacom's three biggest clients in 1996 and 1997 were the World Trade Center and the Metropolitan Washington Airport Authority - which operates Dulles - and MCI, now WorldCom.

Trademark Lawsuit

After the company went public in 1997, Securacom was ordered through a court of law, to change its name to Stratesec, due to a 1995 name infringement suit from SecuraComm, a smaller Pittsburgh-based consultancy. The court found a deliberate effort by Securacom to financially "bury" the plaintiff, Ron Libengood, and "take everything he had" by filing a barrage of frivolous arguments against Libengood and his attorneys in multiple jurisdictions. Appellate courts opined that Securacom "tried to prevail by crushing Libengood and his corporation" in a "sweeping attempt to beat a financially weaker opponent through the use of vexatious litigation."

The company, then known as Stratesec, was delisted from the American Stock Exchange in July 2002 due to inability to make financing payments to ES Bankest, its primary shareholder, and other financial problems.

See also

• Kroll Inc. - Securacom sold security-related equipment to the New York Port Authority for the security of the World Trade Center. Securacom's contract for the sale of equipment was terminated in 1998.