Retailer charged with fraud

Madden faces both criminal and civil charges, including several counts of securities fraud and money laundering. The money laundering charge carries a maximum fine of $1 million and up to 10 years in prison. The securities fraud carries a maximum fine of $500,000 and up to 25 years in prison.

The Securities and Exchange Commission also seeks to bar Madden from serving as an officer or director of a public company, which would prevent Madden from acting as president and chief executive of Steve Madden Ltd., a women's shoe retail company which is traded on Nasdaq.

Madden was indicted Tuesday on separate criminal charges in both the U.S. District Court for the Eastern District of New York and the U.S. District Court for the Southern District of New York.

In a statement released Tuesday afternoon, Madden's company said it had not yet seen the charges filed against its chairman and CEO, but had been advised by Madden's personal attorney that he denied any improper conduct and "will vigorously defend himself against any and all charges."