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Judge issues warrant for man charged with trying to extort Steve Wynn

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πŸ“œ A judge has issued an arrest warrant for Michael Alexander Loizias, a 43-year-old Sanford resident charged with felony extortion against Steve Wynn.

βš–οΈ Palm Beach County Judge James Nutt revoked Loizias's $40,000 bond after he failed to appear at his scheduled hearing on May 14.

🏠 The warrant follows charges filed by the Palm Beach County State Attorney's Office on March 12 for threats or extortion made against Wynn.

πŸ’° Loizias allegedly demanded $1 million from billionaire Steve Wynn by a March 2 deadline according to threatening letters sent to Wynn's Palm Beach estate.

πŸ“© Police arrested Loizias on February 9 after he mailed two packages containing threatening letters and extortion demands to Wynn.

⚠️ Court records reveal earlier in 2023, Loizias sent dozens of emails to Wynn including his Las Vegas address and instructions to send money via Bank of America.

🚫 A notice regarding the hearing was returned as undeliverable when mailed to Loizias's Sanford address on file.

πŸ€” Loizias has pleaded not guilty to the felony extortion charges brought against him by prosecutors.

πŸ‘¨β€βš–οΈ He is currently represented by the Palm Beach County Public Defender's Office, which maintains a policy of not commenting on open cases.

🏑 Steve Wynn resides at a 2.79-acre estate on South Ocean Boulevard in Palm Beach with his wife of nearly 15 years.

πŸ“Š Forbes estimates Wynn's net worth at $3.9 billion following his tenure as CEO and co-founder of Las Vegas-based Wynn Resorts.

Bullish Signals
  • Steve Wynn, billionaire former resort and casino owner, has a net worth of $3.9 billion according to Forbes.com.
  • Wynn is the co-founder and former chairman and CEO of Las Vegas-based Wynn Resorts, demonstrating a strong legacy in the hospitality industry.
Risk Factors
  • Steve Wynn, former chairman and CEO of Las Vegas-based Wynn Resorts, is facing extortion threats demanding $1 million by March 2, despite his $3.9 billion net worth.
  • A judge revoked Loizias's $40,000 bond on May 14 for failing to appear, with a warrant now issued for his arrest as of May 15.
  • Loizias sent threatening packages and emails to Wynn in January and February, including details about Wynn's Las Vegas address and personal estate on South Ocean Boulevard.
  • The extortion attempt targeted both Wynn's residence and business connections, potentially disrupting operations at Wynn Resorts or causing reputational damage.
Full Analysis
A Palm Beach County judge issued an arrest warrant for 43-year-old Michael Alexander Loizias after he failed to appear for a scheduled hearing on May 14 regarding felony extortion charges against billionaire Steve Wynn. Prosecutors alleged that Loizias threatened the Las Vegas hotel magnate and demanded $1 million, with court records noting the Palm Beach County State Attorney's Office formally charged him with threats or extortion on March 12. The warrant was triggered when Judge James Nutt revoked Loizias' $40,000 bond because he missed his hearing, following a notice returned as undeliverable to his Sanford address. Police originally arrested Loizias on February 9 after two packages containing threatening letters arrived at Wynn's 2.79-acre estate on South Ocean Boulevard in Palm Beach. The correspondence included demands for money and explicit threats, with one letter stating, "I am not a nice man. I am not your friend," and noting that Loizias lived near Orlando. Earlier emails from 2023 similarly threatened Wynn with specific instructions to send funds via Bank of America using the Las Vegas investor's known address. Loizias pleaded not guilty to the charges and is currently represented by the Palm Beach County Public Defender's Office, which did not comment on the open case due to policy. Steve Wynn, whose net worth is reported at $3.9 billion according to Forbes, co-founded Wynn Resorts and maintains significant real estate holdings in Palm Beach with his wife of nearly 15 years. The case remains under investigation by local authorities as prosecutors pursue the extortion charges against the suspect who failed to comply with court orders.