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A former shoe company CFO admitted to siphoning $30 million to pay for diamonds and flights to tropical vacations


A former shoe company CFO admitted to siphoning $30 million to pay for diamonds and flights to tropical vacations
ndailey@businessinsider.com (Natasha Dailey)
© Boonchai Wedmakawand/Getty Images
Boonchai Wedmakawand/Getty Images
The former CFO of a Massachusetts shoe company pleaded guilty to a $30 million embezzlement scheme.
64-year-old Richard Hajjar bought private flights to the Caribbean and diamonds with the money.
The company, Alden Shoe Co., terminated Hajjar in October 2019.
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When 64-year-old Richard Hajjar was the CFO for Alden Shoe Co., he wrote checks to himself from the company and transferred business funds to his personal accounts, the DOJ said. ....

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Richard Hajjar, former CFO of Alden Shoe Co., pleads guilty to $30 million scheme that paid for diamond jewelry, Caribbean trips for friend


Richard Hajjar, former CFO of Alden Shoe Co., pleads guilty to $30 million scheme that paid for diamond jewelry, Caribbean trips for friend
Updated May 05, 2021;
The former chief financial officer of a Middleborough-based shoe company pleaded guilty on Wednesday to embezzling roughly $30 million from the company in a multi-year scheme, according to Acting United States Attorney Nathaniel R. Mendell’s office.
Richard Hajjar, formerly of Alden Shoe Co., had previously agreed to plead guilty to wire fraud, unlawful monetary transactions and filing a false tax return.
Prosecutors say Hajjar, who is 64, was writing himself checks from company accounts as far back as 2011 until Oct. of 2019. Court documents show that in 2011, Hajjar wrote eight checks worth $585,000; then in 2012, he wrote an additional 17 checks to himself for $1.2 million. ....

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Richard Hajjar, former CFO of Alden Shoe Co., charged in $30 million scheme that paid for diamond jewelry, Caribbean trips for friend


Richard Hajjar, former CFO of Alden Shoe Co., charged in $30 million scheme that paid for diamond jewelry, Caribbean trips for friend
Updated 3:22 PM;
The former chief financial officer of a Middleborough-based shoe company was federally charged Wednesday and agreed to plead guilty to embezzling about $30 million from the company.
Richard Hajjar, formerly of Alden Shoe Co., agreed to plead guilty to wire fraud, unlawful monetary transactions and filing a false tax return. A plea hearing has not yet been scheduled.
Hijjar, 64 of Duxbury, was fired from Alden Shoe Co. in 2019 after he embezzled money from company accounts to his personal accounts and to another individual, authorities said. ....

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