Las Vegas Strip Clubs: New information in the Rizzolo case
March 11, 2010 by diamond
Crazy Horse Too strip club
New information in the Rizzolo case
Steve Miller
Thursday, March 11, 2010
On February 28, 2008, the United States Federal Court granted a STAY to prevent Security Pacific Bank of California from foreclosing on the defunct Crazy Horse Too strip club in Las Vegas.
The bank in 2005 loaned Rick Rizzolo $5 million cash secured by a First Deed of Trust on the Crazy Horse Too property. He immediately absconded with the money and did not pay one payment on the loan.
After making this and many other highly questionable loans, Security Pacific went belly up. The First Deed of Trust was purchased by a California LLC.
However, the LLC was STAYED from foreclosing on the property because, at the time, the government was making a diligent effort to sell the closed Crazy Horse Too.