• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Former Abercrombie CEO Jeffries to enter plea in sex trafficking case

by October 25, 2024
written by October 25, 2024

(Reuters) – Mike Jeffries, the former longtime chief executive of Abercrombie & Fitch, will be arraigned on Friday after being charged with running an international sex trafficking and prostitution scheme while leading the clothing retailer.

Jeffries, 80, who led Abercrombie from 1992 to 2014, is expected to enter his plea to 16 criminal charges before a federal judge in Central Islip, New York, in that state’s Suffolk County.

His employee James Jacobson will also enter a plea. Jeffries’ partner Matthew Smith, a dual U.S.-British citizen, was ordered detained and will plead later. Both face the same charges as Jefferies.

Prosecutors said the alleged scheme ran from 2008 to 2015.

They said Jacobson acted as a recruiter, paid men to have sex with him then chose who would be paid to travel to Manhattan, the Hamptons and several countries around the world to have sex with Jeffries and Smith.

Victims were led to believe that their efforts could lead to modeling jobs, but the scheme’s true purpose was to fulfill Jeffries’ and Smith’s sexual desires without tarnishing Jeffries’ reputation, prosecutors said.

According to the indictment, victims were forced to consume alcohol, Viagra and muscle relaxants; use sex toys; and perform sex acts against their will. They were also required to sign nondisclosure agreements, the indictment said.

Dozens of men were victims, including 15 identified in the indictment, prosecutors said.

Each defendant faces 15 years to life in prison if convicted of sex trafficking and up to 20 years in prison if convicted of interstate prostitution.

The charges echo accusations in a 2023 BBC investigation and private litigation on behalf of Jeffries’ accusers.

Abercrombie has also been sued, but has denied knowing about Jeffries’ alleged misconduct. The New Albany, Ohio-based company was not charged in the criminal case.

Jeffries built Abercrombie into a popular clothing brand focused on teen shoppers, using splashy, sexually charged marketing that included ads with semi-nude models.

He resigned amid falling sales and criticism he was losing his touch in keeping up with customers’ changing tastes.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Fearing China’s hypersonic weapons, US Navy seeks to arm ships with Patriot missiles
next post
Saia shares fall as Q3 earnings miss estimates

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Netflix says its ad tier now has 94 million monthly active users

      May 15, 2025
    • Dick’s Sporting Goods to buy struggling Foot Locker for $2.4 billion

      May 15, 2025
    • YouTube will stream NFL Week 1 game in Brazil for free

      May 15, 2025
    • 5 new Uber features you should know — including a way to avoid surge pricing

      May 15, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (463)
    • Stock (6,426)

    Latest News

    • Netflix says its ad tier now has 94 million monthly active users
    • Dick’s Sporting Goods to buy struggling Foot Locker for $2.4 billion

    Popular News

    • Broadcom shares soar on upbeat guidance, strong AI demand forecast
    • China’s inflation weakens as new risks cloud horizon

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy