RCI Falls as Executives Indicted in Tax Fraud, Bribery Case (2)

(Adds shares in first paragraph.)

New York Attorney General Letitia James announced the indictments of top executives of RCI Hospitality Holdings for their roles in a multi-million dollar criminal tax fraud and bribery case. RCI shares are down 6% in postmarket trading.

• An investigation by the Office of the Attorney General revealed that RCI executives bribed an auditor with the New York Department of Taxation and Finance to avoid paying over $8 million in sales taxes to New York City and the state from 2010 to 2024
• RCI, the individuals involved, and the three clubs deny the allegations and will ...