Paul Bilzerian Indicted For Evading $180M SEC Judgment Through Cannabis Brand Ignite
Once a prominent figure in corporate takeovers, Paul A. Bilzerian was recently indicted by a federal grand jury in California for allegedly dodging a $180 million judgment issued decades ago by the U.S. Securities and Exchange Commission (SEC).
Prosecutors allege that Bilzerian funneled assets through Ignite International Brands, a cannabis and lifestyle company purportedly led by his son, Dan Bilzerian, to evade payment.
Behind the Scenes Control
According to the indictment, detailed by the U.S. attorney’s office in Los Angeles, Bilzerian (74) falsely represented himself as indigent while exercising de facto control over Ignite. He allegedly used shell companies to channel millions of dollars into the company, overseeing its operations, strategy, marketing and fundraising. He also had significant influence over hiring and firing decisions of executives and board members.
Ignite’s CEO on paper was his son, D.B., a social media influencer known for his …