A recent Tom Nash exposé on Ignite International Brands CEO Dan Bilzerian’s ongoing lawsuit against former Ignite president Curtis Heffernan reveals a court date has been set for December 7, 2021. It will be a jury trial.
Things are finally set to come to a head after Heffernan filed the lawsuit earlier this year over the Summer. In the suit, Heffernan alleges that Bilzerian pushed him out of Ignite after he began questioning his spending habits that seemingly ended up on the company’s tab.
After news of the lawsuit, other details began to emerge such as Bilzerian’s lifestyle is largely “rented”, even his $200,000 a month ritzy home in the Los Angeles Hills was being put on the company card.
According to Heffernan, the private planes, yachts, and lavish dinners with supermodels were funded by the company, adding insult to injury when Ignite was $50 million in the red last year. The accusations led to Bilzerian vehemently denying the claims on TMZ.
While not officially proven, other anonymous employees have confirmed this to be the case. In May 2020, the issues first appeared, signaling a wave of setbacks for Ignite going into 2020.
Behind the scenes, there have been whisperings of Dan Bilzerian’s father, Paul Bilzerian, who is a convicted fraudster, is running Ignite behind the seams. Bilzerian Sr. reportedly owes the Securities and Exchange Commission (SEC) over $50 million in fines.
If Bilzerian Sr. is running Ignite behind the scenes, it would certainly raise legal questions since felons are prohibited from running publicly traded companies. With Bilzerian’s father at the helm, one wonders if Ignite can be saved from financial ruin.
A recent annual report by the board of directors for Ignite shows that the company hasn’t fared any better in 2020 due to the coronavirus.
“The Company will need to raise capital in order to fund its operations and continue its existing and prospective expansion into strategic markets. This need may be adversely impacted by uncertain capital market conditions, including those created by the COVID—19 pandemic, an inability to secure strategic partnerships in key markets, and an unfavorable perception of the IGNITE brand,” said the board.
While the upcoming court date is over a year away, a lot of things can happen between now and then. The USA Herald is providing ongoing coverage of this story. Check back with us for further updates.
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