Rick Rizzolo Must Pay the Difference to Kirk Henry and the IRS

“Crazy Horse Too” Sold For $10.5 Million Pending City Approval

By Steve Miller (Bio and Archives)  Wednesday, April 21, 2010 | Print friendly | Subscribe | Email Us

LAS VEGAS - Christopher Condotti(left), a trucking company owner from Chicago,has just been approved by the United States Department of Justice to purchase the defunct Crazy Horse Too topless bar for $10.5 million dollars.

The bar’s previous owner, ex-felon Rick Rizzolo, is obligated to pay court ordered debts amounting to more than $17 million dollars including $10 million to beating victim Kirk Henry.whichRizzolo purports must come totally from the sale of the bar.

However, the sale for less than $17 million leaves Rizzolo responsible for making up the deficit of more than $7 million from his personal assets hidden in the Cook Islands, according to court records.

Because of the club’s close proximity to other adult uses,it wasgrand fathered and operated for many years on a Special Use Permit that expired in2008 followingthe bar’sclosure by the City of Las Vegas.based on it being a public nuisance.

The currentsale is dependent on the Las Vegas City Council granting Condotti a change of zoning and a permanent liquor license according to the ASSET PURCHASE AGREEMENT, released at 11:00 AM Wednesday, April 21.

Included in theOrder of Forfeiture filed in 2008, and thefollowing document filed in U.S. Federal Court on January 29, 2010, Rizzolo agreed to stand personally responsible to pay the difference in the event the Crazy Horse Too does not sell for an amount adequate to pay his court ordered debts. He did so in exchange for a feather light prison sentence.

Based on the current sale, it’s probable that Rick and Lisa Rizzolo’s hidden off shore assets will be seized to pay the deficit in the likely event Kirk Henry or the government prevails at a Uniform Fraudulent Transfer Act (UFTA) jury trial tentatively scheduled for September 2010

The seizure is expected unless Rick Rizzolo’s attorneys can effectively convince the jury that their client is broke, and that he transferred half his assets to his ex-wife during a legitimate divorce that was finalized one month before he began plea negotiations, and following the filing of Mr. Henry’s personal injury lawsuit. - SM

To see the full ASSET PURCHASE AGREEMENT, click here:
For further information, click here: