Dan Bilzerian's Cannabis Company and Father Indicted for Fraud

Federal prosecutors allege Paul Bilzerian used Ignite to evade SEC judgments and deceive investors.

Paul Bilzerian, convicted in 1989 for securities fraud, allegedly funneled hidden assets through Ignite to avoid paying $180 million owed to the SEC.
Dan Bilzerian, known for his poker and social media fame, is named as a figurehead CEO of Ignite, though real control rested with his father.
The indictment includes charges of wire fraud, securities fraud, and conspiracy against Paul Bilzerian, Ignite International Brands Ltd., and accountant Scott Rohleder.
Rohleder is accused of falsifying Dan Bilzerian's tax returns, resulting in a $1.5 million tax loss for the IRS from 2018 to 2020.
Prosecutors claim Ignite misled investors by inflating sales figures and corporate valuation, adding $84 million to its worth through fraudulent activities.