Former Kizzang Boss and Vegas High Roller Faces Sentencing for Fraud

The lawsuit, which began more than four years ago, has left Alexander’s reputation in disrepute and destroyed the gaming empire he built. His case highlights the dangers of financial crime in the fast-growing gaming industry.

Kizzang, founded in Nevada in 2013, offered free online games and contests, attracting public attention. However, Alexander used investors’ money for personal use. According to court documents, about $280,000 was spent at the casino, and another $580,000 was spent on luxury rentals, the Las Vegas Review-Journal reported.

Alexander lived a lavish lifestyle with the money, making numerous trips to the casino and buying expensive items. This behavior destroyed investor confidence.

In January 2020, Alexander pleaded guilty to multiple fraud charges, including securities manipulation and wire fraud. The charges stem from his scheme to deceive investors by convincing them that their money would be used to grow Kizzang. In reality, he used the funds for personal purposes, causing investors significant financial losses. Under federal law, Alexander faces up to 27 months in prison. However, his sentencing has been repeatedly delayed due to his claims of health problems.

Kizzang ceased operations in 2017, two years before Alexander was indicted in 2019. His case gained further attention in 2021 when he clashed with professional gambler Robert “RJ” Cipriani at Resorts World Las Vegas. Cipriani was arrested after the altercation, but a judge later cleared him of theft and robbery charges in 2022. The incident brought attention to Alexander’s shady dealings at Las Vegas casinos.

Alexander’s fraud has had an impact not only on him but on the entire online gaming industry. The case has prompted calls for stricter regulations and more oversight of such companies. Investors and regulators are calling for greater transparency to prevent similar incidents in the future. Many believe Alexander’s conviction will be a landmark event that will serve as a reminder of the need for executives to be held accountable and restore investor confidence in the industry.