Key Points
Five top executives of the strip club operator RCI Hospitality Holdings were indicted in connection with a multi-million-dollar criminal tax fraud and bribery scheme.
RCI executives allegedly bribed a New York Department of Taxation and Finance auditor with trips to Florida, where he was given up to $5,000 per day for “private dances at RCI-owned strip clubs, including Tootsie’s Cabaret in Miami,” New York Attorney General Letitia James’ office said.
“On at least 10 occasions since 2010, Timothy Winata, RCI’s controller and accountant, traveled to Manhattan from Texas to provide the auditor with illegal bribes at RCI’s three Manhattan clubs, Rick’s Cabaret, Vivid Cabaret, and Hoops Cabaret and Sports Bar,” the office said.
The alleged bribes helped RCI avoid paying more than $8 million in New York City and state taxes from 2010 through 2024, according to the AG’s office.
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Comments
I think it's time for me to sell my Rick's stock.
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But maybe I should hold off a bit because Rick's is probably taking a hit on the stock market.
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