Saks Fifth Avenue Manager Arrested for Defrauding Store Out of $800,000
Written by SOURCE on January 28, 2022
A client development manager at a Saks Fifth Avenue store is facing prison time after he allegedly defrauded the store out of nearly $1 million.
Local 10 News reports Peter Matthew Pagan, 34, of Miami, was arrested on Tuesday on accusations that he defrauded a Saks store in Bal Harbour, a village located in Miami-Dade County, out of $800,000.
Pagan has been charged with grand theft, organized fraud, and credit card forgery/intent to defraud.
Over a span of two years, police say the former Saks employee would fraudulently obtain gift cards that were for promotional events, override the amount on the cards, and then sell them at a discount. Per an arrest report, Pagan’s position with Saks allowed him “to have access to the locations and computer systems necessary to obtain the gift cards.”
After discovering that two gift cards were used for one transaction, Saks Fifth Avenue opened an investigation to find the source of the gift cards, leading them to Pagan.
Pagan was taken into custody on Tuesday and is currently being held at Miami’s Turner Guilford Knight Correctional Center on a $25,000 bond.
