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Aeropostale Jury: Finazzo must forfeit $25-plus million
New York -- A Monday report by Bloomberg said that ex-Aeropostale executive Christopher Finazzo – convicted last week on 14 counts of fraud against the retailer – has been order to forfeit more than $25 million.
Jurors unanimously found that Finazzo must turn over $25.79 million in cash, interest in four Calverton, N.Y., properties and as much as $300,000 from a trading account, according to the Bloomberg report, which cited a statement by Robert Nardoza, spokesman for Brooklyn U.S. Attorney Loretta Lynch.
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Kohl’s opens West Coast IT office
Menomonee Falls, Wis. -- Kohl’s Corp. said Monday that it has opened a new IT office in Silicon Valley. The 52,000-sq.-ft. office space in Milpitas, Calif., will be an extension of the IT team at the company’s Menomonee Falls, Wis., corporate office and will initially employ 30-plus Kohl’s associates with the potential to accommodate future growth, said the retailer.