Report: Lawsuits raise concerns over Xsolla CEO’s use of company money

Update: This article was amended to more accurately communicate the allegations presented in Bloomberg's original report.A day after teaming with Savvy Games Group to provide financial support developers in Saudi Arabia, Xsolla is now under fire for its CEO allegedly treating the company like his "personal piggy bank."Per Bloomberg, six former executives have filed lawsuits against Xsolla or CEO Aleksandr "Shurick" Agapitov since 2019. Two of those lawsuits voiced concerns about the company's financial practices or how Agapitov used cash from the game-focused commerce platform, with one allegation claiming he transferred $120 million in company money to his personal accounts between 2021 and 2023.Of that, nearly $70 million (or 64 percent) was transferred in 2…

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