Man who tried to extort casino mogul Steve Wynn was busted by police

• Steve Wynn has been the subject of extortion threats over the past several years
• He finally had enough in January this year when he contacted the police
• Authorities were able to arrest the emboldened extortionist who had left personal details in his threatening letters and messages to Wynn

Steve Wynn, the man behind some of the most iconic Las Vegas casino properties, who built a legacy to admire and remember, has defined what businesses ought to aspire to in the sector, is not a man without his faults.

Steve Wynn says enough is enough - turns in his extortionist

A report by the Wall Street Journal in 2018 embroiled him in a damning sexual assault scandal that cost him dearly, with Wynn forfeiting his role at the helm of Wynn Resorts, the company he helped build, and largely saw him withdraw from public life.

None of this is to say that he deserved to be the subject of a multi-year extortion by one Michael Loizias, 43, who has been harassing Wynn since October 2023, sending him 79 emails that year alone, and demanding million-dollar payments to keep mum about what he alleged to be tax fraud committed by the casino mogul.

Wynn only stepped forward to speak about the extortion on January 30, 2026, when he had received two packages on the previous day containing letters with menacing language. Both times, the sender was the now-arrested Loizias.

One of the messages read: "I am not a nice man. I am not your friend. This situation is going to get very bad for you quickly. I know where you live," along with what had become customary for the man’s threats - a demand for a $1-million payment to Loizias bank account.

These latest threats prompted Wynn to take action to call in the authorities and share the information with them. Specifically, Loizias allegedly threatened physical retribution should Wynn fail to wire the money by a March 2 deadline.

Loizias believed that he could cower Wynn into silence. Why he thought as much is not clear, as Wynn is not facing any tax fraud investigation presently. In fact, the perpetrator was thus emboldened to share his personal information in the letters and packages, leaving his actual phone number.

Wynn holds his own despite the challenges in his life

Loizias was finally arrested on Monday, February 9, and charged with one count of extortion. Steve Wynn has not had an easy life post the 2018 scandal, when he was accused of sexual assault against employees.

Wynn never formally faced criminal or other charges in court, and he settled with at least one accuser. Throughout, he has maintained his innocence. He also fought back against the Department of Justice on trying to have him forcefully register as a "foreign agent," another case he won.

Lately, Wynn has been more open to social media and public appearances. He noted in a social media post that his friends have been urging him to build a new casino resort - something he just might.

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