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Former Alden Shoe Co. Executive Charged in $30 Million Embezzlement Scheme

Alden Shoe Company shoes. Instagram: @aldenshoeco.
Alden Shoe Company shoes. Instagram: @aldenshoeco.

Richard Hajjar, the former chief financial officer of the over 136-year-old heritage brand, which is stocked at J.Crew, has agreed to plead guilty to wire fraud, unlawful monetary transactions and filing a false tax return. 

According to court documents, Hajjar wrote checks to himself and transferred funds from company accounts to his personal accounts, and to the account of another individual — who the lawsuit names as local Massachusetts television star and fashion influencer Bianca de la Garza. Hajjar used the money for personal and gifted indulgences such as luxury travel, private flights and diamond jewellery. He owes approximately $5,112,822 in taxes after failing to report his embezzlement proceeds as income on his tax returns.

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