I-Team: Strip Club Manager Indicted in Escort Service Probe

LAS VEGAS -- A longtime manager of the Olympic Garden gentlemen's club was indicted Tuesday for trying to hide the profits from an escort service that authorities said was a front for prostitution.

The I-Team first reported last month that strip club manager Emmanouil "Manny" Varagiannis was the target of a law enforcement task force for allegedly trying to hide the piles of cash his escort service earned. Internal Revenue Service agents and Metro Police vice officers said Varagiannis repeatedly structured his bank deposits so they would not trigger a reporting requirement and be subject to taxes.

According to the indictment, Varagiannis tried to hide $2.4 million. The indictment also states that he and his wife bought two homes with their escort service profits and those houses are now subject to seizure.

A criminal complaint filed against Varagiannis Sept. 26 charges him with one count of structuring transactions to evade reporting requirements, a form of money laundering.

The Las Vegas IRS office said it hopes this case will put the lucrative sex industry on notice that the tax agency will follow the money, no matter how it is earned.


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