Judge Sentences Shoe Magnate to 41 Months, Orders Him to Pay $8 Million. (24-MAY-01) Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

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AccessMyLibrary Browse D Daily News (New York, New York) (via Knight-Ridder/Tribune Business News) MAY-01 Judge Sentences Shoe Magnate to 41 Months, Orders Him to Pay $8 Million.

Judge Sentences Shoe Magnate to 41 Months, Orders Him to Pay $8 Million.

Publication: Daily News (New York, New York) (via Knight-Ridder/Tribune Business News)

Publication Date: 24-MAY-01

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May 24--Shoe magnate Steve Madden, saying he was "bloodied but unbowed," fessed up to civil and federal stock fraud and money laundering charges yesterday, receiving a 41-month jail term and $8 million in fines and restitution.

In an unusual pair of proceedings, first in Manhattan Federal Court and then across the river in Brooklyn Federal Court, Madden admitted yesterday he participated in "pump and dump" stock sales.

Designed by childhood friend Daniel Porush and golf buddy Jordan Belfort, both...

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