Las Vegas high roller and entrepreneur Robert Alexander will soon hear his fate after pleading guilty to defrauding investors out of more than $1.3m. His sentencing will take place on January 14, with the founder of online gaming company Kizzang facing a 27-month prison sentence.
Alexander at one point was in a medically-induced coma
Alexander admitted to the wire and securities fraud in January 2020. The case was initially delayed due to the pandemic before the defendant’s attorney requested numerous further postponements due to the poor health of his client, claiming that Alexander at one point was in a medically-induced coma.
Kizzang was a Nevada-based company that Alexander started in 2013. He raised $9m through 53 people after claiming he would 10x their money.
Kizzang offered free online contests and games before it closed its doors in 2017. Investors filed legal action against the founder in 2019 after discovering the fraud. Alexander spent nearly $580,000 of business funds on his personal rent, about $280,000 at numerous casinos, as well as significant sums on luxury cars and tuition for his daughter.