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Paul Bilzerian
Convicted Corporate Raider; Securities Fraud During 1980s Hostile Takeover Wave
Corporate Raider; Chairman of Singer Company Board
Overview
Paul Bilzerian was a prominent 1980s corporate raider who was convicted of securities fraud and conspiracy for concealing massive stock positions from the SEC during hostile takeover attempts of Singer Company and Cluett, Peabody & Co. He was convicted after a jury trial in June 1989 on nine counts of securities fraud, conspiracy, and tax fraud. He was sentenced to four years in federal prison and ordered to disgorge $33 million in illegal profits. Bilzerian repeatedly evaded the disgorgement judgment for decades, claiming bankruptcy while maintaining a lavish lifestyle. He is the father of social media personality Dan Bilzerian.
Key Affiliations
Controversies & Concerns
Concealed massive stock purchases from SEC during hostile takeover bids for Singer Company and Cluett, Peabody & Co.
Convicted after jury trial on 9 counts of securities fraud, conspiracy, and tax fraud
Ordered to disgorge $33 million but evaded payment for decades while maintaining lavish lifestyle
Declared bankruptcy multiple times while living in a $4 million Tampa mansion
Father of social media celebrity Dan Bilzerian, whose wealth origins have been questioned
Related Investigations (1)
Criminal Charges & Violations
3 documented violations
15 U.S.C. 78j(b), SEC Rule 10b-5Securities Fraud (9 counts): Concealing stock positions during hostile takeover attempts(Federal)
18 U.S.C. 371Conspiracy to make false statements to the SEC(Federal)
26 U.S.C. 7201Tax Fraud(Federal)
Sources & Documentation
1 documented sources from official records, investigations, and reports
Personal Information
- Born
- 1950
- Birthplace
- United States
Education
- •Harvard Business School (MBA)
Key Timeline
1987-1988
Mounts hostile takeover attempts of Singer Company and Cluett, Peabody & Co. while concealing stock positions from SEC
June 1989
Convicted by jury on 9 counts of securities fraud, conspiracy, and tax fraud
1989
Sentenced to 4 years in federal prison; ordered to disgorge $33 million
1993
Files for bankruptcy, begins decades-long evasion of disgorgement judgment