Hard Rock Suspends Senior VP over Alleged Money Laundering
Hard Rock International has suspended a senior executive following allegations of improper betting practices.
LISTEN TO THIS ARTICLE:Alex Pariente, the company's senior vice president for hotel and casino operations, has been placed on leave without pay after a whistleblower claimed he was involved in a money structuring scheme at Hard Rock Punta Cana in the Dominican Republic.
High-stakes gambler RJ Cipriani, the whistleblower, alleged that an employee, at Pariente's direction, took a $100,000 deposit from a Chinese national and split it into 33 smaller deposits of $3,000 each to circumvent reporting rules.
Pariente was also accused of allowing illegal bookmakers to gamble at Hard Rock Punta Cana, including Matt Bowyer, a Southern California bookie who currently faces federal charges for facilitating illegal betting transactions for Shohei Ohtani's ex-interpreter, Ippei Mizuhara. Bowyer is set to be sentenced on federal money laundering charges.
A statement from Hard Rock International read: "Hard Rock International is aware of the allegations involving one of our executives and is treating the matter with the utmost seriousness. Honesty and integrity are core values of our organization, and we hold all team members—regardless of their role—to the highest ethical standards."
The company continued, "Hard Rock does not tolerate any conduct that compromises the trust placed in us by our guests, partners, or team members. The employee in question has been suspended without pay pending an internal investigation into this matter."
More Business News
A Setback for Ambitions?
The scandal unfolds at a bad time for Hard Rock as it pushes its bid for a coveted New York Casino license. The company has recently partnered with Mets owner Steve Cohen to bid on a casino license near the team's stadium.
Valued at $8 billion, the development is expected to feature a live entertainment venue, a convention center, retail spaces, and a 1,000-room hotel.
However, competition is tight as Hard Rock is one of eight bidders vying for a license in the NYC metropolitan area. It remains to be seen what impact this new incident will have on the bid.
RELATED TOPICS: Business
Review this New Post
Leave a Comment
User Comments
Comments for Hard Rock Suspends Senior VP over Alleged Money Laundering