Paul Bilzerian, a convicted corporate raider and father of social media influencer Daniel Bilzerian, has been indicted on federal charges of conspiracy, fraud, and evading a U.S. Securities and Exchange Commission judgment that has grown to more than $180 million.
The U.S. Attorney’s Office for the Central District of California announced the indictment on Friday, which also charges Bilzerian’s longtime accountant, Scott Rohleder, and Ignite International Brands Ltd., a cannabis company publicly represented as run by Daniel Bilzerian.
Paul Bilzerian, 74, who currently resides in St. Kitts and Nevis, was convicted of securities fraud in 1989. Since then, he has avoided paying the SEC civil judgment issued against him, according to the DOJ.
According to the indictment, Bilzerian used a complex network of shell companies to move millions of dollars in assets, allowing him to evade enforcement of the judgment while falsely claiming indigence in official financial disclosures.
Ignite International, which markets itself as a lifestyle and cannabis brand, was publicly fronted by Daniel Bilzerian, a well-known social media influencer and professional poker player.