Reported about 5 hours ago
The parent company of Rick's Cabaret, RCI Hospitality Holdings, and five executives, including CEO Eric Langan, have been indicted in New York for their alleged involvement in a bribery scheme to evade over $8 million in sales taxes. Between 2010 and 2024, they allegedly bribed a former auditor to secure favorable audit outcomes. The charges include criminal tax fraud, bribery, and conspiracy, with severe potential prison sentences for the accused. After the announcement, RCI's stock dropped significantly.
Source: YAHOO