Steve Madden (born 1958) is the creator and former CEO of Steven Madden, Ltd., a footwear company that bears his name. Madden was born in Far Rockaway, Queens, and contains Irish and Jewish roots. The youngest of three brothers, he began the business with $1,100 in 1990 by selling shoes out of the trunk of his automobile. The brand reported earnings of $1.23 billion in 2012(FY 2012), and is sold throughout the world. He’s married to Wendy Ballew, his former manager of operations. There are about 100 Steve Madden retail stores throughout America. While the business and its own shops focus mostly on Steve Madden products, in addition they take three more sub-categorized Steve Madden lines; Madden Girl, STEVEN by Steve Madden and Freebird by Steven. Worldwide, Steve Madden features a presence in over 55 countries with approximately 185 retail stores & 180 concessions. Madden’s fiscal affairs were strongly entangled with Long Island “pump and dump” brokerage Stratton Oakmont, co-founded by Madden’s childhood pal Danny Porush. A resolution of $9,000,000 was reached in 2004. Since the infractions are not criminal in nature, the SEC was attempting to recover $1,637,000 in a mixture of illegally prevented losses, interest, and a civil penalty. In 2002, Madden was convicted of stock exploitation, cash, and securities fraud. Soon after stepping down as CEO, Madden set himself up as a creative adviser with Steven Madden, Ltd., a place for which he brought $700,000 even when he was in prison. Madden was released from prison in April 2005. Then he attended a New York City halfway house. Madden’s lawyer, Joel Winograd, said that Madden would stay in the home for 60 days. After his release from a halfway house, he was confined to home confinement for a period.
$120 Million