Former Abercrombie & Fitch CEO Mike Jeffries pleaded not guilty to sex trafficking charges, including 15 counts of prostitution. He remains free on a $10 million bond, while the retailer expresses its "appalled" stance and faces a drop in shares.
Mike Jeffries, the former CEO of Abercrombie & Fitch, pleaded not guilty on Friday to charges of running an international sex trafficking scheme while leading the retailer.
Jeffries, 80, who held the position from 1992 to 2014, entered his plea to one count of sex trafficking and 15 counts of prostitution before U.S. Magistrate Judge Steven Tiscione in Suffolk County, New York. He is free on a $10 million bond, secured by his Fishers Island home, but is under home confinement with GPS monitoring.
James Jacobson, an associate of Jeffries, also pleaded not guilty to the same charges and faces similar bail conditions. Jeffries' partner, Matthew Smith, has been ordered detained and will plead later to the same 16 charges.
Prosecutors allege the scheme ran from 2008 to 2015, claiming Jacobson recruited men under the pretense of modeling jobs to fulfill the sexual desires of Jeffries and Smith.
Victims reportedly faced coercion, including forced alcohol and drug consumption, and were made to sign nondisclosure agreements. Prosecutors identified 15 victims, with the defendants facing potential prison sentences of 15 years to life for sex trafficking and up to 20 years for interstate prostitution.
Jeffries and Jacobson's next court appearance is set for December 12.
Following the charges, Abercrombie stated it was "appalled and disgusted" by the accusations and emphasized its commitment to a values-driven organization since Jeffries' departure. Abercrombie's shares have dropped 11% since the charges were announced.
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South Korea’s top court will decide on Friday whether to remove or reinstate President Yoon Suk Yeol, whose brief martial law order sparked the country’s biggest political crisis in years.
The Pentagon’s internal debate over restructuring key military commands — including potentially ending the U.S. monopoly over NATO’s top post — has raised red flags among generals and lawmakers alike, amid growing unease in Europe.
President Trump’s new tariffs hit 185 countries, with Kazakhstan facing the highest rate at 27%. Kazakhstan now seeks talks with U.S. officials to ease the impact.
The U.S. has pressured Lebanon to act against Hezbollah, urging the Lebanese Armed Forces (LAF) to enforce a ceasefire. The LAF, caught between U.S. demands and Hezbollah’s influence, risks losing vital U.S. support if it fails to act.
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