Rockie Gajwani, the former CEO of Trevi Retail, has admitted to one count of wire fraud and three counts of tax evasion in Manhattan federal court. Officials allege that he used some of the stolen money to buy cocaine for lavish binges at strip clubs. The stolen money amounted to around $2.4 million. About $1.6 mil of that was allegedly spent on drugs and other lascivious activities.
Gajwani had previously worked as an executive at Vornado Realty Trust before leaving for a job with Trevi Retail where he made upwards of $200 mil for the company. He was fired from his job in 2013 following suspicions about his behavior and business.
According to the New York Post, Gajwani had written himself checks and wired himself money from business accounts. His accounts often labeled his outings simply as "expenses." One of these "expenses" allegedly included tickets for his whole family to see Rock of Ages on Broadway. He had previously told his business associates that he was struggling with marital troubles and needed help paying off his credit card bills.
Gajwani has agreed to pay over $3.5 million including back taxes owed to the IRS. Gajwani's lawyers are offering no comment on the situation.
[Photo: Getty Images]