Palms (NASDAQ: RRR) Casino & Resort Executives Under Federal Investigation

Sources say that Alex Cordova is currently under federal investigation . We imagine it has something to do with the 1 billion dollar project Jon Gray was hired to managed, including a botched day-club/nightclub renovation costing in excess of $100 million.  That's a lot of money to manage for a guy who was a branding manager for NIKE in Portland, Oregon just a few months before. 

KAOS renovation project was managed by Jon Gray. Rumors circulating that Jon Gray embezzled millions from investors.

Alex Cordova worked for Wynn Nightlife.  Alex is suspected in conspiring with Jon Gray, the GM from the Palms Casino, to skim millions of dollars off a th world largest DJ contract: $60 million to DJ Marshmello for 2 years.  Marshmello never played a show but walked away with over $28 million - of investor money.

---

One look at Jon Gray makes you wonder if he cared about the KAOS day / night club at all.  Basically, it appears that there were two guys who tried to scam the investors of the Palms Casino in Las Vegas by overpaying for ridiculous contracts and then skimming off the top.  Its' very obvious that Jon Gray though that by mismanaging funds that were entrusted to them by the Ferritas brothers, no one would notice his stupidity.   They would just assume he was an ineffective GM who botched $200 million night club, and maybe more if Alex Cordova hadn't got caught.

The Palms is owned by Red Rock Resorts (NASDAQ:RRR). The billionaire Ferritas brothers hold the majority of the shares of RRR.