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Dan Bilzerian is on the verge of bankruptcy and legal troubles, YouTuber sheds light on the alleged 'Bilzerian' lies

Image Credits: Business Insider
Image Credits: Business Insider
Rishabh B.
ANALYST
Modified 13 Oct 2020, 12:10 IST
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Dan Bilzerian, infamously known as the ‘King of Instagram’, is an American venture capitalist with 32.5 million followers on the platform. He is also an amateur poker player, and has claimed that he got honorably discharged from the US Navy SEALs after completing his training. On Instagram, most of his posts are about his extravagantly rich lifestyle.

Dan Bilzerian has been criticized by quite a few content creators in the past, and was allegedly called the ‘man-baby’ of Instagram by YouTuber Philion. His source of funding is the company Ignite International Limited, of which he is the CEO and founder. However, recently, it has been claimed that most of his life is based on lies.

Image Credits: Pinterest
Image Credits: Pinterest

Dan Bilzerian going bankrupt, facing legal troubles: YouTuber sheds light on the big 'Bilzerian' lies

Back in July, Bloomberg had reported that former Ignite President Curtis Heffernan has filed a suit against the company claiming that he was fired for refusing to approve Dan Bilzerian’s extravagant spendings.

The company has not been in the best financial shape, and received $1.2 million in Paycheck Protection Program Loans from the US government in 2019. Furthermore, Ignite International Ltd reported a loss of over $50 million last year, which has been widely attributed to the CEO’s extravagant spending.

Image Credits: The Asian Age
Image Credits: The Asian Age

The company currently has more liabilities than assets, and Dan Bilzerian has been allegedly funneling investors’ money to fuel his expensive habits. In the video that can be seen at the end of this article, YouTuber JAMARI talks about all of these issues, and also questioned Dan Bilzerian's poker skills.

The 39-year-old has widely been said to be a below-average poker player, and has been criticized for his Casanova-like lifestyle, especially with younger women. Moreover, the company that he founded is basically bankrupt, and at the same time owes over $40 million to investors.

The YouTuber called Dan Bilzerian a fraud, stating that his supporters should be aware of these aspects before worshipping him on social media forums.

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You can watch the entire video below.

Published 13 Oct 2020, 00:43 IST
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