Friday, May 9, 2025

Ousted Ignite CEO Dan Bilzerian Sues Father Over Brand Misuse

Dan Bilzerian, influencer and former CEO of Ignite International Brands Ltd. (CSE: BILZ) filed a lawsuit against his father, Paul Bilzerian, in the US District Court for the District of Nevada on Tuesday, November 12. The suit centers around allegations that Paul used Dan’s likeness without permission to promote business dealings related to the controversial cannabis and lifestyle brand.

The lawsuit alleges that elder Bilzerian continued to exploit Dan’s public image and likeness without authorization to mislead stakeholders about Ignite’s financial stability and operations, even after Dan’s forced departure from the company.

Dan was removed as nominal CEO through what he describes as a coup orchestrated by his father in December 2023. His tenure is marred by substantial financial losses and criticism for Ignite’s spending practices, with reports indicating that company funds were allegedly used to finance his extravagant lifestyle. This included luxury homes, private jets, parties, and lavish promotional events, which some investors and analysts believed contributed to Ignite’s financial struggles.

Dan’s lawsuit seeks monetary damages for the misappropriation of his identity. He’s also requesting a comprehensive investigation into Ignite’s business operations during Paul’s involvement. 

This follows recent serious allegations against Ignite and Paul by the Securities and Exchange Commission. In September 2024, the SEC filed charges against Ignite International Brands and Paul Bilzerian, alleging a scheme to falsify financial records in 2020. 

According to the SEC’s complaint filed in the Southern District of New York, Paul Bilzerian orchestrated the creation of fraudulent invoices totaling $5 million for non-existent sales, leading to a misleading press release that caused Ignite’s share price to surge 144% on the OTC market.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Circle Agrees To $10.4 Million Settlement With SEC Related To Poloniex Assets

The United States’ Securities and Exchange Commission this morning continued its crackdown on the cryptocurrency...

Monday, August 9, 2021, 09:26:23 AM

SEC Charges Lordstown Motors with Misleading Investors on Endurance Pickup Truck Sales

The Securities and Exchange Commission (SEC) has taken action against Lordstown Motors Corp (OTC: RIDEQ),...

Friday, March 1, 2024, 12:14:46 PM

SEC’s GameStop Report Refutes Short-Selling Theories, Criticizes PFOF and Gamification of Markets

The much-awaited SEC report on the Reddit-fuelled GameStop trading mania has finally been released, refuting...

Tuesday, October 19, 2021, 04:27:00 PM

Judge Denies SEC Request To Probe Binance.US: “We Need More”

The United States Securities and Exchange Commission (SEC) faced a setback in its pursuit of...

Tuesday, September 19, 2023, 11:48:00 AM

Anson Funds Enters $3.3 Million Settlement With SEC

The Securities and Exchange Commission has announced that it has settled charges against Anson Advisors...

Friday, October 20, 2023, 12:22:00 PM