Another Who's Your Daddy Inc. executive has been caught up in a criminal drug trafficking case in San Diego.
Court documents filed since our original story show that, in March, agents seized a 32-foot powerboat valued at more than $100,000 from Dan Fleyshman, one of Who's Your Daddy's founders and the current director of sponsorship.
The seizures preceded a slew of federal drug indictments that included Edon Moyal, Fleyshman's co-founder at Who's Your Daddy (OTCBB: WYDI.OB). ((link to seizure list))
Fleyshman is not a defendant in the case and has not been charged with any crimes. He told Sharesleuth that although the government seized the boat, it wasn't actually his.
"I didn't own the boat so it wasn't seized from me, nor was anything else since I'm not a part of the case," he said in an email.
Fleyshman said the boat had at one point belonged to a luxury store that he owned in downtown San Diego. He said it was purchased by one of the defendants in the drug trafficking case, which is why the government took it. However, the most current registration records for the boat still list Fleyschman's store as the owner.
The U.S. Attorney's office said it couldn't comment on a pending case.
The government disclosed the seizure after prosecutors filed a bill of particulars for all of the items and cash that were taken as part of the investigation. In all, agents seized more than $500,000 worth of cash, cars and jewelry from people connected to the case. That includes some $40,000 in cash seized from Moyal, and a little more than $4,000 seized from Fleyshman, whose name was misspelled in the court documents.
Moyal was executive vice president of marketing and brand development at the time of his arrest. He, along with a handful of others, was charged with conspiracy to distribute marijuana and possession of marijuana with intent to distribute. According to court documents, agents conducting surveillance spotted Moyal handling boxes of marijuana that were later shipped from San Diego to Maryland.
Although Who's Your Daddy said in a Securities and Exchange Commission filing in April that Moyal had resigned as an officer and director, it did not disclose his arrest or his federal indictment.
The case drew national attention when an undercover operation that was supposed to be a final bust went awry last spring and several defendants led police on high speed chase across San Diego freeways, throwing fistfuls of cash out their windows as they went.
Moyal and Fleyshman, both under 30, had been hailed in Entrepreneur and other publications for developing the Who's Your Daddy line of clothing, energy drinks and other products, and for taking their company public at such a young age.
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