Food52 Exec Stole at Least $270K, Used Company Credit Card

A former Food52 government, Shannon Muldoon, 38, lately took a plea deal for making private expenses on the corporate bank card — for greater than $270,000.

Muldoon was indicted in August 2024 for one rely of grand larceny within the second diploma, however she will not face jail time; she accepted a plea deal earlier this summer season for 5 years of probation, per an exposé this week from The Cut.

“She mainly walked away with all the garments. And the recollections,” a coworker instructed the outlet.

Associated: Another ’30-Under-30′ Business Superstar Was Convicted of Fraud — This Time for Defrauding JPMorgan Chase Out of $175M

Muldoon was working Food52’s branded content material arm, Studio 52, and was issued an organization bank card. Based on the report, from 2021 to 2023, she charged lots of of 1000’s of {dollars} value of bills, together with Botox, fancy gyms, designer garments, and journey to wellness retreats. There have been extreme expenses from the posh clothes web site, Net-a-Porter, regardless of Food52’s coverage of not offering garments for expertise at picture shoots. (Executives discovered of this coverage after the very fact.)

^{Sophie Nathan, Shannon Muldoon, and Christine Tebcherany attend “Health Junkie” Ebook Launch at Longchamp on July 11, 2017, in New York Metropolis. Sean Zanni/Patrick McMullan | Getty Pictures}

Nevertheless, Muldoon was retaining the expensing and labeling as much as code, and the software program that tracked worker expense stories did not catch something, in accordance with the report. However after a company reorganization in 2022 and Muldoon taking in depth break day in 2023, colleagues started questioning issues like why producing their movies was so costly and the way Muldoon afforded her way of life, which she was showcasing on Instagram.

“The $270,000 in unauthorized purchases is a really conservative estimate as to Ms. Muldoon’s theft,” the Manhattan DA’s workplace mentioned, in accordance with court docket paperwork seen by The Lower. “Our investigation confirmed further unauthorized purchases from different luxurious clothes manufacturers, furnishings firms, and different travel-related expenses.”

Associated: The Latest on Art World Scam Artist Anna ‘Delvey’ Sorokin

Future Commerce factors out that this case highlights a serious failure of company oversight and the way trendy, automated expensing programs and approval processes can “allow years of unchecked monetary abuse.”

The Lower reported that Muldoon has paid $15,000 in restitution thus far, however may face penalties as much as $262,000, which will probably be decided in September.

^{Be part of prime CEOs, founders and operators on the Level Up conference to unlock methods for scaling what you are promoting, boosting income and constructing sustainable success.}