You can’t keep a good Florida Man down—ask Jack Owoc, the founder of the energy drink brand Bang.
Owoc was ousted as CEO of Bang and its parent company, VPX, after losing a false advertising lawsuit from energy drink rival Monster. After the $293 million verdict, Bang filed for bankruptcy, Owoc was sacked, and Monster would later acquire the company in July 2023.
Earlier this year, the liquidating trust for VPX and Bang sued Jack Owoc, his wife Megan, and son Jon, alleging Owoc benefited from the fraudulent transfer of over $100 million. The filing states that Owoc would ask VPX’s finance director to transfer funds to him as he pleased instead of having a scheduled distribution of set amounts. The lawsuit further alleges that those funds were used for personal expenses, including Owoc’s individual income tax, several real estate investments, a $1.6 million gym and home theater renovation on Owoc’s personal home, and over $9 million to buy and maintain a small island off the Florida Keys.
