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by Mike Caswell

U.S. prosecutors have confirmed the arrest of Paul Bilzerian, the St. Kitts man charged for manipulating Ignite International Brands Ltd., a former Canadian Securities Exchange listing. The government claims that Mr. Bilzerian, who had no official role with Ignite, caused the company to report $4.6-million in revenue that did not exist in the fourth quarter of 2020. (All figures are in U.S. dollars.) The inflated revenue came as the stock went to $1.20 from 42 cents.

Word of Mr. Bilzerian's arrest is contained in a brief letter that prosecutors filed in a related civil case brought by the U.S. Securities and Exchange Commission. The letter, filed on Friday, April 24, is a regular status update to the judge. It adds, almost as a footnote, that "the Government has been informed that defendant Paul Bilzerian has retained counsel and negotiated a bond agreement with authorities in Saint Kitts and Nevis pending extradition proceedings to the United States for the Criminal Case."

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