Marc Jacobs Pays $1 million Settlement in Bribery Case

By Diane Smith
13:03, November 20th 2008
38 votes
Vote this story
Marc Jacobs Pays $1 million Settlement in Bribery Case

The Marc Jacobs fashion company paid a $1 million settlement in connection with the accusations that it bribed the superintendent of the 26th Street Armory, the New York attorney general's office said on Wednesday.

The fashion company agreed to pay the sum in order to settle the dispute over the improper payments it made to secure the venue to hold its signature fashion shows. The improper payments were made from 2000 until 2007. Marc Jacobs International paid superintendent James Jackson approximately $35,000 in cash and goods. In exchange, the fashion company gained access to a quite rare location that can host thousands of people with unobstructed views.

The company even had an exclusive arrangement with the armory during Fashion Week.

The superintendent acknowledged accepting the bribe. Mr. Jackson, 57, pleaded guilty to second-degree grand larceny. He will receive sentence in State Supreme Court in Manhattan in December and could get from 5 to 15 years behind bars, according to a statement released by Attorney General Andrew M. Cuomo and Inspector General Joseph Fisch.

Mr. Jackson isn’t at his first similar case. He worked for the State Division of Military and Naval Affairs for more than 30 years, but was forced to resign after he was caught on tape accepting a bribe.

The building where Mark Jacobs International arranged to hold fashion events is know by the name of the 69th Regiment Armory (one of 58 armories in the state), which normally rents for $6,000 a day. The bribes Mr. Jackson received included computers and a Bowflex exercise machine.

“New York City is a global epicenter for fashion and cultural events, and we will not allow corruption and greed to tarnish one of our most lucrative industries,” Mr. Cuomo

"Marc Jacobs' executives cooperated fully with the office of the attorney general and today's agreement resolves the investigation with respect to Marc Jacobs," Mr. Cuomo’s office said.



© 2007 - 2009 - eFluxMedia
dotclear

Other News in

dotclear
Latest videos in Specials
And Finally Hair Do nots
Rocky Mountain News Closing...
Love is in the air balloon
T.I. Says No to Parties and...
Which Jonas Brother Will...

dotclear
Specials You are here: Specials
» Blogs   » Specials   
E-mail To A Friend Print RSS Text size: Decrease font size Increase font size
dotclear
dotclear
dotclear

Interested In This Topic?

News Alert will keep you informed. Find out more.
dotclear
Photos Gallery
dotclear