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Shoe Drops on Former CFO Who Embezzles $27 Million; Faces 33 Years in Prison!

The former CFO of Alden Shoe Company, Richard Hajjar, pleaded guilty to filing a false tax return, wire fraud and unlawful monetary transactions in connection with embezzling more than 27 million dollars from the company.


From 2011 to 2019, when he was fired from the company, Hajjar stole 3.7 million dollars by writing checks to himself. He embezzled another 24 million dollars by transferring the money to a trust owned by the company that was dormant and making himself the trustee of the account. From this account he wrote more checks to himself and to others.


At least 15 million dollars of the stolen funds went to Bianca de la Garza, a former news anchor who runs Lucky Gal Productions. De la Garza claims she did not know the lavish gifts, vacations and investments in her company came from the embezzled funds.


From 2014 to 2019 Hajjar failed to report the proceeds from the embezzlement on his tax returns which resulted in a tax loss of $5,112,822 to the IRS.


Hajjar faces up to 33 years in prison.

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