In 2021, Alden Shoe Company's former chief financial officer, Richard Hajjar, pleaded guilty to embezzling more than $30 million from the Massachusetts footwear manufacturer. The scheme struck an unusually intimate target: Alden is a heritage, family-owned company founded in 1884, with a workforce of roughly 100 people, many of them second- or third-generation employees producing handcrafted shoes and boots in the company's Middleborough factory. According to the account, approximately $17 million of the stolen money was transferred to a business operated by Hajjar's partner, Bianca de la Garza. The case transformed a story of painstaking American craftsmanship, long-term employment, and luxury-grade materials—including shell cordovan supplied by Horween Leather Company since 1930—into one of financial betrayal and corporate damage. Hajjar was ordered to serve nearly six years in prison, providing a criminal reckoning for the fraud while underscoring the vulnerability of even a small, closely held fashion manufacturer to misconduct inside its financial leadership.
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AI concept artworkArchive Record · 2020s
The $30 Million Alden Embezzlement: A Heritage Shoe House Betrayed from Within
Alden Shoe Company / 2020s
In 2021, Alden Shoe Company's former chief financial officer, Richard Hajjar, pleaded guilty to embezzling more than $30 million from the Massachusetts footwear manufacturer. The scheme struck an unusually intimate target: Alden is a heritage, family-owned company founded in 1884, with a workforce of roughly 100 people, many of them second- or third-generation employees producing handcrafted shoes and boots in the company's Middleborough factory. According to the account, approximately $17 million of the stolen money was transferred to a business operated by Hajjar's partner, Bianca de la Garza. The case transformed a story of painstaking American craftsmanship, long-term employment, and luxury-grade materials—including shell cordovan supplied by Horween Leather Company since 1930—into one of financial betrayal and corporate damage. Hajjar was ordered to serve nearly six years in prison, providing a criminal reckoning for the fraud while underscoring the vulnerability of even a small, closely held fashion manufacturer to misconduct inside its financial leadership.
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