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.
