One of the best fashion Tycoon, Peter Nygard is facing allegations of sex trafficking and sexual assaults. The allegations lead police officers to raid the Nygard’s million-dollar boutique in New York and other properties in California.
CNN reported that the US Attorney’s Office for the Southern District of New York has NY police execute a search warrant.
The Federal Bureau of Investigation conducted the search on Tuesday.
Peter Nygard is not Surprised
In a statement, Peter Nygard’s spokesman confirmed the raid to the media. He said authorities executed search warrants on Nygard’s offices in New York and California but that Nygard is not surprised by the investigation.
According to him, Nygard actually welcomes the federal investigation and that he is expecting his name to be cleared.
Frydman added that he has not been charged and that the fashion tycoon is not in custody. He noted that Nygard is cooperating with the investigation.
Stepping Down and Allegations
Born in the 1940’s in Finland, Nygard is of the European-Canadian origin. He was the former fashion executive, chairman and founder of Nygard International. The company was originally based in Winnipeg and is known for making women’s wear. Among the products that the company manufactures include jeggings, leggings and female youth clothing accessories.
Nygard is known to be the 70th richest Canadian and was even recognized by the Canadian Business Magazine in 2009. 10 years ago, his net worth was more than $800 million.
Curerntly, Nygard International remains to be one of the largest women’s clothing manufacturers and suppliers in the world.
Wikipedia reports Nygard International’s annual sales to be over $500 million and that the company employs about 12,000 employees in the US and the American territories.
Read more about fashion here: Fashion Brand Ayni Showing How Fashion Can be about Ethics as Well as Aesthetics