A Boston stylist who billed himself as the city's "Fashion Whisperer" is now at the center of a six-figure fraud case involving Saks Fifth Avenue. Prosecutors say longtime Saks employee Suhail Kwatra quietly siphoned more than $400,000 from the luxury retailer by manipulating returns, gift cards, and perks meant for the store's wealthiest customers, including socialites and spouses of Red Sox players, reports the Wall Street Journal.
According to a criminal complaint filed in Boston Municipal Court, Kwatra, who the Boston Herald reports was deemed the "top salesman" for the Boston Saks, allegedly processed returns on pricey items that clients had paid for but never picked up, then converted those refunds into Saks gift cards he used for himself. Security staff told police that three episodes since September alone generated more than $11,000 in bogus refunds. The complaint also accuses him of misusing promotional cards, handing out merchandise that hadn't been purchased, and abusing a Saks credit card.
Investigators say Kwatra penned a handwritten confession breaking down the losses—about $375,000 in fraudulent returns and another roughly $54,000 or so tied to promotions, unpaid goods, and the corporate card—all while promising to repay Saks. Kwatra, 43, now disavows that letter, with his attorney, Jennifer Furey, saying he signed it under pressure after being assured there'd be no criminal or reputational fallout. She argues that Saks managers were fully aware he was doling out gift cards and similar benefits to keep big spenders loyal, claiming he was pushed out only after he explored another job and declined a retention bonus.
"None of this was secretive, and all of it was aimed at benefiting Saks and the brands," Furey said, adding to NBC Boston that the charges are "baseless and vindictive." Saks declined to comment, referring questions to Boston authorities, per the Journal. The case lands as Saks and other high-end retailers grapple with what fraud experts say is a rise in "insider" theft, or "inny" fraud. Fraud analyst Karisse Hendrick says employee schemes have become more common in recent years, sometimes with workers recruited by outside criminal networks. Kwatra, who built a two-decade career at Saks' Boston store, is scheduled to be arraigned on larceny charges later this month and says he's sure he'll clear his name.
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