![]() ![]() Ignite had made a brief and unsuccessful play for a share of the legal cannabis market in both the United States and Canada before public filings revealed the firm was hemorrhaging cash in ways that a later lawsuit alleged were suspicious. The elder Bilzerian himself is a notorious one-time corporate raider who served time in prison for securities fraud and famously managed to hide most of a $62 million SEC judgment from being collected.īefore Ignite went private in August, investigators from both the SEC and the FBI subpoenaed the company for a vast number of documents, according to recently unsealed court records and Paul Bilzerian. Paul Bilzerian, who said he is now serving as an unpaid adviser to his son’s company, was speaking on behalf of Ignite because Dan was unavailable to comment.
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