Saks Stylist Charged In Fraud Case

Benzinga

A Saks Fifth Avenue stylist was charged with fraud and larceny for allegedly stealing more than $400,000 through bogus returns, gift-card abuses, and unpaid merchandise. He denies the accusations, calling them retaliation, while Saks says the matter is now with law enforcement.

Transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Suhail Quatra, a longtime stylist at Saks Fifth Avenue's Boston store,

00:08has been charged with fraud and larceny for allegedly stealing more than $400,000

00:12from the luxury retailer, according to the Wall Street Journal.

00:17Prosecutors allege Quatra processed fraudulent returns on unclaimed merchandise,

00:22converted refunds into gift cards, misused promotional cards,

00:25distributed unpaid merchandise, and abused a corporate credit card.

00:30The complaint cites total losses of $429,400.

00:35Quatra denies the allegations, saying the claims are retaliatory after he considered other employment,

00:40while his attorney said a handwritten confession cited by investigators was signed under duress.

00:46Saks referred questions to law enforcement as the case proceeds toward arraignment later this month.

00:50For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended