Ex-Alden CFO Charged With Embezzling $30M, To Plead Guilty

By Chris Villani (April 14, 2021, 3:41 PM EDT) -- The former chief financial officer of the Alden Shoe Co. was charged with and will plead guilty to embezzling about $30 million from the company as part of a long-running scheme, Boston federal prosecutors said Wednesday.

Richard Hajjar, 64, of Duxbury, Massachusetts, has agreed to plead guilty to wire fraud, unlawful monetary transactions and filing a false tax return, prosecutors said. He will appear in federal court at a later date.

Prosecutors say Hajjar's conduct dates back to at least 2011 and continued through October 2019, when Alden fired him. Hajjar wrote checks to himself from company accounts and also transferred...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!