Computer generic

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.

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.