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Impact on Abercrombie & Fitch stock price after Mike Jeffries' arrest by November 2024?
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Mike Jeffries•Brooklyn•Jeffries•British•Matthew Smith•Jim Jacobson•Florida•FBI•BBC•ANF•Fran Horowitz
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Former Abercrombie CEO Mike Jeffries, 80, and Partner Arrested on Sex Trafficking Charges
Oct 22, 2024, 02:13 PM
Mike Jeffries, the 80-year-old former CEO of Abercrombie & Fitch, was arrested on federal sex trafficking and interstate prostitution charges. Federal prosecutors in Brooklyn announced that Jeffries, along with his British partner Matthew Smith and associate Jim Jacobson, were taken into custody in Florida as part of an investigation led by federal agents and the FBI. The arrests follow a BBC investigation and a civil lawsuit alleging that Jeffries, who remains the largest insider shareholder of Abercrombie & Fitch (NYSE: ANF), ran a sex trafficking operation involving young male models. Jeffries is accused of exploiting young men who were lured with promises of modeling opportunities but were instead sexually abused during lavish events. The company's current CEO, Fran Horowitz, and management have not commented on the arrests.
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