By  on April 15, 2011

Ralph Esmerian, once chairman of Fred Leighton, faces up to 30 years in jail after pleading guilty to three counts of fraud in connection with over $210 million in loans and the subsequent bankruptcy of the high-end jeweler.

Preet Bharara, the United States Attorney for the Southern District of New York, said Esmerian, 70, embezzled and double-pledged $48 million in jewelry and other assets that were used as collateral for loans to fund his 2006 acquisition of Leighton.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus