Federal government seizes home of former Middleborough Shoe Firm CFO
DUXBURY – The former chief financial officer of Alden Shoe Company of Middleborough will be forced to confiscate his Duxbury home from the federal government after his conviction for embezzling the company’s $ 30 million.
According to a federal confiscation order, Richard Hajjar, 64, must cede his house at 14 Ryan’s Lane in Duxbury.
The property is valued at $ 802,400.
Hajjar pleaded guilty in May to wire fraud, illegal money transactions and filing a false income statement after embezzling millions of dollars from the shoe company from 2011 to 2019.
He wrote checks and transferred funds to himself and another from the company’s bank accounts, using the funds to build his own wealth and purchase gifts and luxury travel, including flights private to the Caribbean and diamond jewelry.
The former CFO also paid no more than $ 5.1 million in taxes to the Internal Revenue Service.
When he was sentenced on September 16, he was sentenced to over five and a half years in prison and paid over $ 33.9 million in restitution – and now it looks like he will lose his home.
If no one else claims a right to the title – or if the government denies the claim – the house will be owned by the U.S. government by the end of November.