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Herbal Life's pyramid scheme
Don, Crazy Eddie was Eddie Antar and his cousin Sam was the CFO of the company. Sam was the guy cooking the books for Eddie. Sam is also the guy who put nearly $300K into Barry Minkow. RE: Executive salaries, I am in 100% agreement with you. My only argument to this is that it ultimately is all a ponzi scheme as the guy at the top of EVERY Corporate company is taking in most of the profits. Singling out those at the top of any MLM firm as being any different is wrong. They started the companies, they are most in line for the biggest profits. Check out the pay for the Google guys who started that company. Lloyd Blankfein took in over $70 Million last year and hedge fund managers are pulling in over 41 Billion annually. Ultimately Wall Street itself is one big ponzi scheme that is protected by the federal government.— May 15, 2008 3:30 a.m.
Herbal Life's pyramid scheme
Don, I am not personally involved in MLM but I am ceratinly aware that they have been around for decades. Your comments in Post #2 almost assuredly imply that MLM firms are all fraudulant scams. My question to you woud then be, if they are all fraudulant scams, why has the Federal government allowed them to exist over these decades? Certainly the federal governmengt has shut down many a pyramid schemes and yet Herbal-Life has been around for some time now. If they were a pyramid scheme as you claim, why do they exist today? If you don't like the fact that upper management gets the most profit/money in all this you must have a basic problem with corporate America in the USA. Research the ratio of CEO salary to average worker and take a close look at the disparity.— May 14, 2008 3:14 p.m.
Herbal Life's pyramid scheme
Barry Minkow is a crook who was sentenced to 25 years and served a paltry 7. His newfound company, Fraud Discovery Institute was financed in part by Sam Antar who is likewise a crook who scammed people through the company Crazy Eddie. Like Minkow, Antar served reduced time for defrauding people out of millions of dollars (house arrest) and now these two pair up to destroy the reputation of public companies and investors in these public companies. Minkow profited $60,000 on his reportings he claims. The stock lost more than 50% of it's market capitalization costing investors tens of millions of dollars. Ultimately a regulatory investigation found that much of Minkows claims were false. How many more public companies and investors will Minkow and Antar gang up to destroy while harassing them in false allegations?— May 14, 2008 2:43 p.m.