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• n  a fraudulent scheme in which people are recruited to make payments to the person who recruited them while expecting to receive payments from the persons they recruit; when the number of new recruits fails to sustain the hierarchical payment structure the scheme collapses with most of the participants losing the money they put in

News & Articles

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• Pols ask FTC to investigate global nutrition company Herbalife
  They come to this country looking for a better life, but promises of quick cash often allegedly go unfulfilled. Officials throughout the U.S. have asked the Federal Trade Commission (FTC) to investigate Herbalife, a global nutrition company which has been accused of operating an “abusive” pyramid scheme targeting minority groups. “Herbalife seemingly goes after largely [...]
  June 24, 2013 - Queens Courier
• Déjà vu all over again: Bill blasts Herbalife
  Bill Ackman is back on the Herbalife attack. The hedge-fund manager — who took a $1-billion short against Herbalife’s shares last year — reiterated his call for an investigation of the company while attacking a recent survey that Herbalife says refutes his allegations that it is a pyramid scheme. Ackman’s...
  June 19, 2013 - New York Post
• Ackman blisters Herbalife
  Bill Ackman attacked a recent survey that Herbalife says refutes allegations that it is a pyramid scheme and reiterated his call for an investigation of the company. Ackman’s Pershing Square hedge fund said that the Nielsen survey funded by the company relied on responses from only 349 individuals to...
  June 18, 2013 - New York Post