This week saw one of the strangest stories ever to hit Tradsville, something as could only befit the year of our lordless 2020.
Alden, maker of ultra-conservative footwear crafted in New England, has filed a lawsuit against its former VP and CFO for allegedly embezzling $27 million from the company, $15 million of which was funneled to a person by the name of Bianca de la Garza, founder of Lucky Gal Productions.
Reports the Boston Globe:
According to the court filings, [Richard Haijar] bought a $1.1 million New York City co-op apartment for de la Garza using money stolen from the company and purchased other extravagant gifts, including a Mercedes-Benz, diamond jewelry, and designer handbags and clothing. The court has approved the company’s seizure of Hajjar’s assets held in seven banks and financial services companies, excluding his pension.
The court documents indicate that Alden, a New England footwear stalwart founded in 1884, hired Hajjar in 1987. According to the filings, Hajjar’s father had been the CPA for the father of the company’s current president, Arthur S. Tarlow Jr., and Hajjar’s two brothers worked for the company. Trust ran deep between the two families.
You’re probably wondering how it’s possible that a humble little shoemaking firm from rural New England could have that much money to lose. Let’s just say the alleged crimes go back to 2011, when Alden was selling an awful lot of Indy boots to workwear-clad hipsters.
Alden’s president was contacted for this post, but said he is unable to comment on pending litigation. — CC