Patriot National Founder Mariano Entangled in Luxury Yacht, Other Lawsuits

Patriot National founder Steven Mariano stepped down as the company’s chief executive officer in July, but he hasn’t quietly faded away. Mariano remains a defendant in an array of lawsuits — including one seeking repayment of a $32 million loan for a luxury yacht. In another case, investment group Hudson Bay Master Fund claims that Patriot National hasn’t delivered stock it paid for, alleging that the shares aren’t available because Mariano has tied them up as collateral for personal loans. The case was filed in April 2016 in U.S. District Court for the South...