The name "Fred Leighton" is familiar to anyone who has read People magazine or watched red carpet coverage of an awards show—stars (like Amy Adams, pictured) are frequently decked out in the jeweler's baubles. However, today, the Daily News reports that owner Ralph Esmerian "was arrested Monday morning on bankruptcy fraud and wire fraud charges, according to law enforcement officials. Esmerian is being charged with lying to U.S. Postal Inspectors about embezzling and double-pledging in connection to more than $210 million in loans used to finance his company, Fred Leighton."
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