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Former shoe company CFO in trouble for island trips

A former chief financial officer (CFO) of US-based shoe company Alden Shoe Co. agreed on Wednesday in a US court to plead guilty to wire fraud, unlawful monetary transactions and filing a false tax return.

CFO Richard Hajjar has embezzled about $30 million from the company. Court documents show that Hajjar paid US $114,000 for private flights to go to St. Maarten and Anguilla.

Hajjar also purchased two pairs of earrings that totaled nearly US $200,000 and two diamond rings that cost US $241,000.

Hajjar’s scheme, court documents said, began in 2011, when he wrote himself eight checks worth US $585,000. The following year, court documents said, he wrote himself 17 checks totaling more than US $1.2 million. None of this was declared on his income tax.

Hijjar was fired from Alden Shoe Co. in 2019 after he embezzled money from company accounts to his personal accounts and to another individual, US authorities said.



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