Marc Jacobs Pays $1M to Settle Bribery Scandal
Neither Jacobs nor the company will face formal charges
Updated 4:09 PM EST, Wed, Nov 19, 2008
A company founded by fashion designer Marc Jacobs has paid $1 million to resolve an allegation that it bribed a New York state employee.
Marc Jacobs International was accused last winter of repeatedly paying off a superintendent at a National Guard armory so it could secure the building for its celebrity-studded fashion shows in New York City.
Attorney General Andrew Cuomo announced the settlement Wednesday.
Neither Jacobs nor the company will face formal charges in the scandal.
The armory superintendent pleaded guilty to a bribery indictment in late October. He is scheduled to be sentenced next month.
The company said in a written statement that it was pleased to be done with the matter.
Copyright Associated Press
First Published: Nov 19, 2008 1:31 PM EST
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