Retail Magnate Peter Nygard Resigns After Sex-Trafficking Raid


The FBI and NYPD raided Nygard International’s Manhattan offices Tuesday as they investigated sex-trafficking allegations against its Canadian chairman, Peter Nygard, who stepped down later in the day.

Federal agents searched Nygard’s California offices as well, a spokesperson for the company told the Wall Street Journal.

Ten women accused Nygard in a federal lawsuit in Manhattan this month of raping women and underage girls at his Bahamas estate.

Nygard has not been charged, is cooperating with the probe and expects to be absolved of any wrongdoing, his spokesperson told the newspaper.

Earlier, the New York Times detailed Nygard’s long-running feud with hedge fund manager Louis Bacon, which began over a shared driveway in the Bahamas and helped lead to the federal lawsuit.

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