Posted on: October 4, 2021, 01:47h.
Closing up to date on: October 4, 2021, 02:04h.
Philip Conneller Learn Extra
A Las Vegas on-line sweepstakes operator faces as much as 40 years in jail for allegedly stealing greater than 1,000,000 greenbacks from buyers. However first, he’s seeking to take certainly one of his sufferers, a rich heiress, down with him.
Robert Alexander, left, poses with Knicks legend Charles Barkley on the release of Kizzang, an organization that had no “significant income,” in step with prosecutors. (Symbol: Getty)
Robert Alexander, 51, made $30 million by way of promoting his video video games promotion corporate to Take-Two Interactive, the mum or dad corporate of Grand Robbery Auto author Rockstar Video games. However in step with The New York Submit, he blew his fortune in strip golf equipment and at craps tables.
His subsequent mission used to be Kizzang, which introduced sweepstakes-based on-line gaming thru slots tournaments, myth sports activities, and scratch playing cards. In step with federal prosecutors, Alexander resumed his over the top way of life, however this time, the cash wasn’t his to squander.
Wall Side road Royalty
Prosecutors say Alexander stole “no less than” $1.3 million from buyers in Kizzang and used it as is personal private piggy financial institution. He spent greater than $450,000 on the gaming tables of Las Vegas. Every other $579,000 went towards paying off his bank cards.
A type of buyers used to be Sherry Pryor Witter, a Wall Side road heavyweight who’s married to Michael D.Witter. He’s the grandson of Dean Witter, who began the mythical brokerage company Dean Witter Reynolds, which merged with Morgan Stanley within the Nineties.
Pryor Witter used to be the primary investor in Kizzang to sniff a rat. She known as the FBI, however allegedly now not prior to she bought her stocks, which Alexander’s legal professional claims she knew had been nugatory.
If the allegations of Sherry Pryor Witter towards the defendants are to be substantiated then she is a fugitive from justice for the resale of the nugatory paper she bought after her prison allegations towards the defendants,” Alexander’s legal professionals claimed in court docket papers filed in the USA Southern District of New York and with the SEC.
Alexander has pleaded to blame in January 2020 to 1 rely of securities fraud and one rely of cord fraud, however has again and again and effectively filed to have sentencing not on time, mentioning well being causes. Apparently that he’s hoping to shop for leniency by way of throwing Pryor Witter beneath a bus.
Alexander additionally was hoping he may just monetize Kizzang’s shopper visitors thru promoting and sponsorship. However in step with prosecutors, the mission “by no means had any significant income” from its 2017 inception to its insolvency.
They allege he made wild claims to buyers about tenfold returns, and stated he had created a brand new hit online game. He instructed one investor he had made a charitable donation of $50 million to a outstanding Los Angeles health center to domesticate a picture of private wealth.
Actually, he used to be virtually broke.
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