Canada Court To Weigh Extraditing Fashion Exec Accused In US of Sex Crimes

Peter Nygard is facing sex trafficking, racketeering and related charges.(AP: Annie I Bang/Invision)
Peter Nygard is facing sex trafficking, racketeering and related charges.(AP: Annie I Bang/Invision)
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Canada Court To Weigh Extraditing Fashion Exec Accused In US of Sex Crimes

Peter Nygard is facing sex trafficking, racketeering and related charges.(AP: Annie I Bang/Invision)
Peter Nygard is facing sex trafficking, racketeering and related charges.(AP: Annie I Bang/Invision)

Fashion executive Peter Nygard, wanted in the United States for alleged sex crimes, is to appear in a Canadian court Friday for an extradition hearing.

Held in prison since his arrest in Winnipeg, Manitoba last December, the 80-year-old Finnish-Canadian millionaire faces nine charges in the United States, including racketeering and sex trafficking, said Agence France-Presse.

These involve dozens of victims in the United States, the Bahamas and Canada, and include minors, according to the New York federal attorney overseeing the case.

His extradition trial had been scheduled for five days in November but was unexpectedly pushed up to this week and is only expected to last one hour.

Earlier this year Nygard was denied bail on grounds he might tamper with witnesses or his accusers. The judge noted he had breached court orders on at least five past occasions and that the accusations against him were "disturbing."

His alleged crimes, US prosecutors said, took place between 1990 and 2020. Nygard and his alleged accomplices, including employees of his group, "used force, fraud, and coercion to cause women and minors to have sex" with them, according to the indictment.

He targeted women and girls from disadvantaged economic backgrounds or who had histories of abuse, using "the ruse of modelling and other fashion industry jobs" to lure them, it said.

His company's funds were said to have then been used to host dinner parties, poker games and so-called "pamper parties" where minor girls were drugged and women assaulted if they did not comply with his sexual demands.

Corporate accounts were also tapped to pay for victims' travel, living expenses, plastic surgery, abortions and child support, said prosecutors.

According to court documents, partygoers were often photographed and their personal information including weight and physical measurements kept in a registry.

The perma-tanned Nygard, known for his long, flowing gray hair and flamboyant dress sense, and who claimed stem cell injections kept him young, has denied the allegations.

- 'Worse than Epstein' -

His case has drawn parallels with that of late financier Jeffrey Epstein, who was awaiting trial on sex trafficking charges when he killed himself in a New York jail in 2019.

"Nygard is worse than Epstein," Lisa Haba, a lawyer representing women suing Nygard in a class action, told AFP, saying the victims suffered "lifelong and all-consuming" pain.

"We believe he had more victims," she said. "And he was more violent in the crimes he committed," including "incredibly violent rapes (and) forcing victims to defecate on him."

Several women have joined the class action launched in February 2020, accusing him of having assaulted, raped and sodomized them after luring them to his seaside mansion on New Providence island, some of them when they were young teens.

Nygard, the founder of women's clothing company Nygard International, was reported to be worth over $850 million (US$ 670 million) in 2015, according to Canadian Business magazine.

He has long boasted about his rise from humble beginnings, as a young immigrant who built a fashion empire with nearly 170 stores at its peak.

His company, however, filed for bankruptcy shortly after the FBI and police raided Nygard's Manhattan corporate headquarters last year.



Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
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Nike Shares Rise as Apple’s Cook Doubles His Bet on CEO Hill’s Overhaul Effort

A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)
A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, US, March 18, 2019. (Reuters)

Nike shares rose 5% in early trading on Wednesday after Apple CEO Tim Cook doubled his personal stake in the sportswear maker, raising his bets on the margin-pinching turnaround efforts led by CEO Elliott Hill.

Cook, who has been on Nike's board since 2005, bought 50,000 shares at $58.97 ‌each, according to ‌a regulatory filing. As of December ‌22, ⁠he holds about ‌105,000 shares, which is now worth nearly $6 million.

It was the largest open market stock purchase for a Nike director or executive and possibly the largest in more than a decade, said Jonathan Komp, analyst at Baird Equity Research.

"(We see) Cook's move as a positive signal for the progress under CEO Elliott Hill and Nike's 'Win ⁠Now' actions," Komp said.

The purchase comes days after Nike reported weaker quarterly margins and weak ‌sales in China even as CEO ‍Hill tries to revive demand ‍through fresh marketing plans and innovation focused on running and sports, ‍while phasing out lagging lifestyle brands.

He has also attempted to mend Nike's ties with wholesalers such as Dicks Sporting Goods to increase visibility among shoppers amid stiff competition from newer brands.

However, the strategy has strained Nike's margins, which have been declining for over a year, while its efforts to win back its ⁠premier position in discount-friendly China appears to be faltering.

Nike's shares have slumped nearly 13% since it reported results on December 18 and are on track for the fourth straight year of declines. They were trading at $60.19 on Wednesday.

Cook has been a lead independent director of Nike since 2016 when co-founder Phil Knight stepped down as its chairman.

The Apple CEO "remains extremely close" with Knight, Komp said, adding that he has advised Nike through key strategic decisions including Hill's appointment last year.

Board director and former Intel CEO ‌Robert Swan also bought about 8,700 shares for about $500,000 this week.


Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
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Etro Founding Family Exits Group as New Investors Including Türkiye's RAMS Global Join

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters
L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner. Reuters

The founding family of Italian fashion house Etro has sold the minority stake it still owned in the brand to a group of investors including Turkish group RAMS Global, the company said on Friday.

L Catterton, a private equity firm backed by French luxury giant LVMH, will remain Etro's majority owner and "will continue to actively support the brand's long-term growth strategy," Etro added, according to Reuters.

The new investors comprise also Italian fashion group Swinger International and small private equity firm ⁠RSI.

In addition to buying the stake, they all subscribed to a capital increase that will lower L Catterton's holding in Etro to between 51% and 55% from around 65%.

When including both the acquisition and the capital increase, the deal is worth around 70 ⁠million euros ($82 million), two sources close to the matter said. Etro did not disclose financial details.

Chief Executive Fabrizio Cardinali will remain at the helm, while Faruk Bülbül, representing RAMS Global, will become chairman of the board.

L Catterton bought a 60% stake in the brand known for its paisley motif four years ago, and it slightly increased the holding over the years.

The company, founded by Gimmo Etro in 1968, has ⁠been struggling with its turnaround. Last year it posted a net loss of 23 million euros with net revenues declining to 245 million euros from 261 million euros, according to filings with the local chambers of commerce reviewed by Reuters.

Rothschild advised L Catterton and the Etro family on the deal.

Rothschild had been hired in 2024 to look for a new investor who could buy all or part of the Etro fashion group, sources had previously told Reuters.


Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
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Paris Court Rejects Bid to Suspend Shein Platform in France

A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo
A customer holds shopping bags with a Shein logo in the first physical space of Chinese online fast-fashion retailer Shein on the day of its opening inside the Le BHV Marais department store, the Bazar de l'Hotel de Ville, in Paris, France, November 5, 2025. REUTERS/Sarah Meyssonnier/File Photo

A Paris court on Friday rejected a government request to suspend Chinese fast-fashion platform Shein in France after authorities found illegal weapons and child-like sex dolls for sale on the fast-fashion giant’s website.

Shein welcomed the decision, saying it remains committed to strengthening its control processes in cooperation with French authorities.

“Our priority remains protecting French consumers and ensuring compliance with local laws and regulations," the company said in an emailed statement to The Associated Press.

The controversy dates to early November, when France’s consumer watchdog and Finance Ministry moved toward suspending Shein’s online marketplace after authorities said they had found childlike sex dolls and prohibited “Class A” weapons listed for sale, even as the company opened its first permanent store in Paris.

French authorities gave Shein hours to remove the items. The company responded by banning the products and largely shutting down third-party marketplace listings in France.

French officials have also asked the European Commission to examine how illegal products were able to appear on the platform under EU rules governing large online intermediaries.