Location: > Online Gambling > text

SEC: Las Vegas online game developer gambled away investors'

edit:casino time:2019-02-08

SEC: Las Vegas gambling/112X192017.html">online game developer gambled away investors' money

by The Associated Press

MGN Online

AA

LAS VEGAS (AP) — 

Federal regulators are accusing a Las Vegas online game developer of gambling away part of his investors' money.

The Securities and Exchange Commission in a complaint filed Thursday accuses developer Robert Alexander of misspending part of the approximately $9 million he raised from investors for a purported online gambling business.

Regulators allege in the complaint that Alexander misappropriated at least $1.3 million from investments in Kizzang LLC, including $404,000 that he used in gambling sprees and $579,000 for personal credit card bills.

The U.S. Attorney's Office for the Southern District of New York in a statement says it has filed securities and wire fraud charges against Alexander in a parallel action. The statement says the 49-year-old Las Vegas resident was arrested Thursday.

Federal court records do not list an attorney who could comment on Alexander's behalf.

close video ad

Unmute

toggle ad audio on off

close

Trending

1

 'Whoa, Nelly!' Horses 4 Heroes not wanted by residents in northwest valley

Classification

Casino websites wishes you to enjoy online casino responsibly.

Never play online casino with money you can't afford to lose and be aware of the fact that gambling is not a way of earning money.

Gambling may cause pathological addiction if it is not enjoyed in moderation.

If you feel like you have to limit your gambling behavior, contact Gamcare for professional help.

map
Top