BusinessCompany NewsFormer Hilfiger CFO admits to £10m fraud

Former Hilfiger CFO admits to £10m fraud

Martin Bodner's theft began in the middle of 2000 and continued until December last year when he was fired

The former CFO of the US high-street fashion store has admitted to $19m
(£10.6m) in wire fraud over a period of seven years.

Sixty-year-old Martin Bodner used the company’s payroll scheme to increase
his salary and bonus payments, and so make illegal payments to himself,
reimburse his account for fake expenses and to also make payments to personal
creditors and a family member.

He now faces up to 40 years in prison.

According to court papers Bodner’s theft began in the middle of 2000 and
continued until December last year when he was fired.

Bodner has agreed to give up three properties and several cars as part of his
plea.

He will be sentenced on November 5.

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