Former Abercrombie & Fitch CEO Michael Jeffries was arrested in connection with a federal sex-trafficking and interstate prostitution case, the New York Times’ Danielle Kaye reports, citing federal prosecutors. The charges come a year after a BBC investigation and a class-action lawsuit alleged Jeffries used the prospect of modeling jobs at Abercrombie to lure young men to events where they were sexually exploited. The plaintiffs in the suit filed last year also accused Abercrombie of being complicit in the sex-trafficking scheme.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ANF:
- JPMorgan ups Abercrombie target, places on ‘Positive Catalyst Watch’
- Abercrombie & Fitch (NYSE:ANF) Stock Jumps 8% on Upgrade from JPMorgan
- Should Investors Buy the Dip in Abercrombie & Fitch’s (NYSE:ANF) Stock?
- Abercrombie Fitch (ANF) Defies Market Expectations
- Abercrombie & Fitch price target raised to $220 from $215 at Jefferies