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Marc Jacobs International Pays $1 Million Settlement

(Filed Under Financial and General Interest News). Marc Jacobs International has paid a $1 million settlement to resolve an allegation that it bribed James Jackson, superintendent of the 26th Street Armory, to use the location for its fashion shows.

According to Attorney General Andrew Cuomo, from 2000 to 2007 Marc Jacobs International paid Jackson more than $35,000 in order to have exclusive access to the armory during Fashion Week. "New York City is a global epicenter for fashion and cultural events, and we will not allow corruption and greed to tarnish one of our most lucrative industries," said Mr. Cuomo in a statement. "Places like the 69th Regiment Armory are a key part of ensuring that cultural enterprises across the state continue to thrive."

According to Mr. Cuomo and Inspector General Joseph Fisch, Jackson, 57, has plead guilty to second-degree larceny and is scheduled to be sentenced in State Supreme Court in Manhattan next month and could face 5 to 15 years in prison.

According to a statement released by Marc Jacobs International, the company has been fully cooperative during this investigation. They will have a private company review its operations for two years who will report that information to the attorney general.

"We are pleased that this matter has been resolved," said a spokeswoman for Marc Jacobs International. "We have already taken and will continue to take steps to avoid incidents of this nature in the future.

more Financial and General Interest News >>

Published 11-21-2008 by Bruna Fernandes

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Marc Jacobs International Pays $1 Million Settlement

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