NEW YORK — Nearly $25.8 million: That’s the amount that Aéropostale Inc.’s former chief merchandising officer, Christopher Finazzo, has to forfeit as a result of his conviction last week of mail and wire fraud and conspiracy charges.
Jurors in the Finazzo criminal fraud trial on Thursday returned guilty verdicts on 14 counts of mail fraud, one count of wire fraud and one count of conspiracy. The 12-member panel returned to court Monday to determine the forfeiture phase in which they unanimously decided in a special verdict that Finazzo must forfeit almost $25.8 million; all assets of a subsidiary of South Bay Apparel; four pieces of real estate in Calverton, N.Y., that the jury determined were acquired by the subsidiary from ill-gotten gains from the fraud and up to $300,000 in a TD Ameritrade account.
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