Convicted Massachusetts Shoe Company Exec to Forfeit Home to Feds

A former executive at a Massachusetts shoe manufacturer convicted last month of embezzling $30 million from the company must also now surrender his $800,000 home, according to court records.

A federal forfeiture notice shows the government will seize a Duxbury home owned by Richard Hajjar, Masslive.com reported. The home is assessed at $802,400.

Hajjar, 64, the former chief financial officer of Alden Shoe Co., was sentenced in September to nearly six years in prison after pleading guilty in May to wire fraud, unlawful monetary transactions and filing a false tax return. He was also ordered to pay more than $60 million in restitution and penalties.

He also failed to report the proceeds of his embezzlement as income on his tax returns, prosecutors said.

The Middleborough-based shoe company, which makes high-end dress shoes and other footwear, was founded in 1884, according to its website.