PEKIN, Ill. (WMBD) — Newly unsealed court documents break down how Reditus Labs monies were allegedly misappropriated by its CEO to fund a lavish lifestyle.
Aaron Rossi allegedly spent $100 million of company funds between January 2020 and June 2021 on himself, then falsely recorded payments as “computer equipment software”, “contract labor”, and “advertising and marketing expenses.”
That includes $4.7 million on more than 50 cars, $5 million airplane, $645,000 in custom clothing, $280,000 for jewelry and watches, and $30 per month on AshleyMadison.com, a website marketed as a place for married people to seek out affairs.
The cars were often purchased in bulk from local dealerships, including eight Jeep Grand Cherokees on December 20, 2021.
Pekin-based Reditus Labs received more than $200 million in lucrative state contracts for COVID-19 testing during the pandemic.
Reditus shuttered operation in November 2022, citing the ongoing legal dispute between Rossi and his former business partner Dr. James Davie. Davie sued Rossi for allegedly pushing him out of the company and using company funds for a lavish lifestyle.
WMBD has reached out to Rossi’s spokesperson and lawyers for comment.