Las Vegas Man Arrested in Alleged $1 Million Extortion Plot Against Steve Wynn

^{Steve Wynn, former chairman and CEO of Wynn Resorts, reported the alleged extortion attempt to police after receiving dozens of threatening emails and letters. (Photo: Prensa Internacional / ZUMA Wire)}

The Palm Beach Police Department has arrested a Las Vegas man accused of attempting to extort casino mogul Steve Wynn to the tune of $1 million through threatening emails and mailed letters.

Police say that 43-year-old Michael Alexander Loizias was taken into custody on Monday, Feb. 9, after detectives lured him to Palm Beach in an undercover operation.

Loizais faces a criminal count of extortion and is reportedly being held at the Palm Beach County Jail on a $40,000 bond as of Tuesday afternoon.

Police: Suspect Sent 79 Emails, Two Packages to Wynn

According to an affidavit establishing probable cause in the case, Wynn – who lives in Palm Beach, Florida – first became aware of the situation when he began receiving threatening emails from Loizias in October 2023. Documents allege that Loizias sent approximately 79 such emails to Wynn, demanding that he pay Loizias money related to alleged unpaid taxes from the sale of “Wynn stock.”

On Jan. 30, 2026, Wynn’s executive assistant met with police after Wynn reported being extorted. 

According to police reports, Wynn received two packages that day, one from FedEx and one via USPS Priority Mail. . Both packages included letters once again demanding that Wynn wire $1 million to Loizias’s bank account by a March 2 deadline, along with direct threats against Wynn.

“I am not a nice man,” one letter reportedly read. “I am not your friend. This situation is going to get very bad for you quickly. I know where you live.”

Despite targeting one of the most powerful figures in the casino industry, the alleged extortion attempt left a clear paper trail, including a return address on the FedEx and a phone number tied to the suspect himself.

According to police, they contacted Loizias by calling the phone number linked to the letters. Initial calls went to voicemail, which police say included Loizias identifying himself by name. They later spoke to Loizias on Feb. 5, though the call was disconnected after the detective identified himself. 

Former Wynn Resorts CEO Still Making Headlines

Steve Wynn served as the CEO of Wynn Resorts from 2002 until his resignation in 2018, following public accusations of sexual misconduct against him. That scandal led the Massachusetts Gaming Commission to issue the company a $35 million fine in 2019 for failure to disclose those allegations, and has ultimately held up Encore Boston Harbor's $400 million expansion in Everett, Massachusetts.

While Wynn largely stepped out of the public eye since leaving his executive position, he has been a figure in some high-profile legal battles in recent years. In March 2025, the U.S. Supreme Court declined to hear Wynn’s appeal in a defamation lawsuit against the Associated Press, with none of the nine justices agreeing to hear the case.