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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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PwC US: Total deal value and volume surges in Q1
New York -- Multibillion dollar transactions drove U.S. retail and consumer deals during the first quarter of 2013, according to PwC US.
For the three month period ending March 31, 2013, there were a total of 27 deals in the retail and consumer sector with disclosed values greater than $50 million, accounting for $39.8 billion in deal value. Deal volume increased 59% from the 17 deals during the first quarter 2012, while deal value rose 590% from $5.8 billion in first quarter 2012.