Kizzang Founder, Vegas High Roller Robert Alexander Facing Prison for Fraud
Robert Alexander, the founder of Kizzang and a well-known high roller in Las Vegas, is facing a potential prison sentence after being convicted of securities and wire fraud.
Robert Alexander poses with models during the Sports Illustrated & KIZZANG Bracket Challenge Party at Slate in New York City in 2016. (Source: Dave Kotinsky/Getty Images for Sports Illustrated)
LISTEN TO THIS ARTICLE:According to records from the U.S. District Court of Southern New York, Alexander will be sentenced on January 14 next year. Alexander's conviction stems from a scheme in which he defrauded investors of over $1.3 million through various enterprises. He used the funds for personal spending sprees, including gambling at various casinos, luxury cars, rent, and personal credit card payments.
Related: Former Accountant Fuels Gambling Addiction with a Million Dollar FraudIn January 2020, Alexander pleaded guilty to one count each of securities fraud and wire fraud. Under federal sentencing guidelines, Alexander faces up to 27 months in prison for his role in the scheme. His sentencing has been delayed multiple times, largely due to his attorney requesting postponements on the grounds of Alexander's declining health. Despite these delays, the sentencing date is now set, marking the final step in the legal proceedings against him.
Alexander's fraudulent activities primarily centered around his company, Kizzang, a Nevada-based limited liability company that was founded in 2013. Kizzang offered free online games and contests, and initially, it attracted attention as a potentially lucrative startup in the online gaming sector. However, the company ceased operations in 2017, and its downfall was followed by the indictment of Alexander in 2019.
The two-count indictment revealed the extent of Alexander's misuse of investor funds, which were meant to support Kizzang's operations but were instead funneled into his personal expenses.
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Court documents indicate that a significant portion of the stolen funds—nearly $280,000—was withdrawn by Alexander at various casinos. He spent approximately $580,000 on rent for his personal residence, while other funds were used to purchase luxury cars and cover credit card bills. Alexander's lifestyle, financed by the fraudulent use of investor money, included lavish gambling trips and other high-end expenditures. These revelations ultimately led to his conviction after a thorough investigation by federal authorities.
In addition to his legal troubles surrounding the fraud case, Alexander has also been involved in other notable incidents. In 2021, he had an altercation with professional gambler Robert "RJ" Cipriani at Resorts World Las Vegas. Cipriani became entangled in a dispute with Alexander at the casino, which resulted in Cipriani's arrest on charges of larceny and robbery. These charges were later dismissed in 2022.
Federal authorities have pursued the case against Alexander since the indictment was filed, and his guilty plea in 2020 marked a critical point in the prosecution of the case. With his sentencing date approaching, the court will soon determine the full extent of his punishment. Each charge carries a possible sentence of up to 20 years in prison, which can be served concurrently or consecutively, depending on the judge's decision.
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