Former Exec Accuses Ignite CEO of Reckless Spending

IGNITE Worldwide Manufacturers is a shopper product firm led by Dan Bilzerian. The corporate began within the CBD wellness house however has expanded into advertising THC merchandise in addition to different “premium” merch, from sports activities drinks to water, even vodka and clothes.

In April, the corporate joined the worldwide effort to model and market PPE, from masks and gloves to sanitizer and cleaner. The corporate did, nevertheless, donate almost $25,000 value of provides to organizations in Los Angeles. Efforts for the larger good apart, IGNITE was lately hit will some compelling allegations from a former government.

In line with a report from TMZ, CEO Dan Bilzerian faces a retaliation lawsuit from the corporate’s former government vp, Curtis Heffernan, over allegations that he was terminated for blowing the whistle on reckless spending.

In line with Heffernan, he was fired for telling the corporate’s board about some unorthodox investments, together with an $88,000 vault, a $75,000 paintball area, a $60,000 Star Wars gun set, a $50,000 mattress body, a $40,000 mountaineering wall, and $15,000 on a ping pong table.

Different enterprise bills included luxurious yacht leases and mannequin transportation — and should you’ve ever seen Bilzerian’s Instagram account, plenty of it is sensible. Heffernan additionally accused the CEO of utilizing money to pay salaries, charges, and bills for different corporations owned by Bilzerian.

The information comes after an annual report mentioned the corporate misplaced almost $50 million in 2019.

In line with Forbes, the corporate additionally acquired about $1.2 million from the Paycheck Safety Program loans from the Small Enterprise Administration.

Bilzerian says the previous exec was fired for incompetence and negligence and plans to counter sue.