USA: Shoe Mogul Steve Madden Jailed
Shoe designer Steven Madden was yesterday sentenced to 41 months in prison and ordered to repay $3.1 million after he admitted helping to manipulate the prices of initial public offerings. The 45-year-old, founder of leading shoe retailer Steven Madden Ltd, pleaded guilty last May to conspiring to one count of money laundering and one count of conspiring to commit securities fraud.