Steve Madden, the man behind the popular footwear brand that carries his name, faced a major setback in his life back in 2002. That year, he was sentenced to 41 months in jail after he admitted to serious charges like securities fraud, stock manipulation, and money laundering.
These problems were mainly because of his links with Stratton Oakmont, the brokerage firm started by Jordan Belfort and Danny Porush, which many of us know from the film The Wolf of Wall Street.
It was through Stratton Oakmont that Steve Madden’s company, Steven Madden Ltd., became a public company. But later, investigations revealed that Madden was involved in more than 20 fake IPOs and stock scams, some of them even related to his own brand. In one particular case in May 2000, he sold 1 lakh shares of his company based on insider information, and by doing that, he saved himself from losing about $7.8 lakh.
Steve Madden’s Legal Troubles and Comeback Journey
Once he was found guilty, Madden resigned from his positions as CEO and board member of his company. However, he didn’t leave completely—he stayed on as a creative consultant and was still earning ₹5.8 crore per year, even while he was serving his sentence. He spent his jail time at the Federal Prison Camp in Eglin, Florida, and was released in April 2005.
But Madden didn’t give up. After coming out of jail, he worked hard and rebuilt his brand. Today, it’s known worldwide. In fact, in 2025, Steve Madden’s company made big news when it announced the purchase of UK footwear brand Kurt Geiger for £289 million. This clearly showed their strong position in the international market.
Not long ago, Steve Madden appeared on Season 6, Episode 6 of The Cutting Room Floor podcast, hosted by Recho Omondi. In this interview, he spoke openly about his journey in the fashion world, his time in jail, and how he managed to bounce back. He shared the struggles he went through, the lessons he learnt, and how his experiences changed the way he looks at the fashion business.
If you’re interested, the full episode is available to buy or can be accessed through Patreon.
Current Steve Madden Promotions and Brand Expansion
Steve Madden also runs warehouse sales in different cities from time to time. For example, there was one recently in Toronto where customers could get up to 80% off on a wide range of shoes for men and women.
In the U.S., there’s a Memorial Day Sale going on right now on stevemadden.com. You can get 30% off on selected styles by using the code SUNNY on their official website.
Apart from that, other stores like DSW are also offering discounts on Steve Madden products. At present, DSW is giving an extra 25% off on brands like Adidas and Steve Madden when you use the promo code VIP.
Steve Madden’s collection includes a wide variety of sandals that perfectly combine style and comfort. They’re suitable for different occasions and personal styles, whether you like something trendy or classic.