BOSTON (AP) — A former top executive at a nearly 140-year-old shoe manufacturer in Massachusetts pleaded guilty Wednesday to embezzling $30 million from the company and spending it on luxury items and travel for himself and another person, federal prosecutors in Boston said.
Richard Hajjar, 64, the former chief financial officer of Alden Shoe Co., admitted to wire fraud, unlawful monetary transactions and filing a false tax return, according to a statement from the U.S. attorney’s office.
He faces more than 30 years in prison at sentencing on Sept. 15.
Hajjar, of Duxbury, embezzled the money from 2011 until he was fired in 2019, by writing checks to himself
→ Continue reading at Boston - Business