GOOD MLM'S UNDER ATTACK BY ANTI-MLM COALITION
An International Coalition of Consumer Advocates is Requesting the FTC to Protect Consumers from Multi-Level Marketing Schemes
(source: The Law Offices of Douglas M. Brooks) An international coalition of consumer activists, internet bloggers, entrepreneurs and professionals has filed a petition requesting that the Federal Trade Commission investigate the multi-level marketing industry and protect consumers from fraudulent and deceptive practices.
Washington, D.C. (PRWEB) October 25, 2013
Multi-level marketing (MLM) firms purport to offer business opportunities in which consumers can supposedly make money both by selling products person-to-person and by recruiting more participants who will then recruit even more participants in an ever-expanding chain. The petition states that “[t]he MLM industry has proven incapable of regulating itself, is rife with fraudulent and deceptive earnings claims and has caused – and will continue to cause – untold financial harm and misery to the poorest and most vulnerable of the consumers whom the Commission was formed to protect.”
Last December hedge fund investor Bill Ackman drew attention to Herbalife, one of the largest MLM firms, stating that Herbalife is a pyramid scheme and that his firm, Pershing Square, had sold short a billion dollars worth of Herbalife stock, betting that it would fall to zero. Since then a number of consumer groups, Hispanic and African-American organizations and politicians have urged the FTC to investigate Herbalife.
The Petition filed by coalition states that the problems with MLM are not limited to Herbalife and that existing laws are not sufficient to protect consumers.
Members of the coalition include long-time MLM critics such as Dr. Jon Taylor (http://www.mlm-thetruth.com), Robert Fitzpatrick (http://www.pyramidschemealert.org), Stephen Barrett, M.D. (http://www.quackwatch.org and http://www.mlmwatch.com), Rick Ross (http://www.culteducation.com) and, as well as internet activists and bloggers who have focused attention on MLM firms such as Amway, Shaklee, Usana, Mannatech, Vemma, Lyoness and Herbalife. The coalition also includes former Wisconsin Assistant Attorney General Bruce Craig, former North Carolina Assistant Attorney General Kristine Lanning, economist Stacie Bosley of Hamline University, author and researcher on entrepreneurship Dr. D. Anthony Miles, and cult expert and mental health counselor Steve Hassan. The coalition includes members from India, China, Ukraine, Finland, Canada, Britain and Austria, reflecting the fact that MLM is an international problem. The petition was filed by attorney Douglas M. Brooks, a member of the coalition who has litigated a number of class actions against MLM firms.
The coalition is an ad hoc group which is not incorporated and was organized solely to file the Petition with the FTC. The full text of the Petition, the list of members of the coalition and information on how consumers can get involved are available at http://www.mlmpetition.com
DRA INPUT TO FTC http://ftc.gov/os/comments/bizoprevised/comments/535221-00075.pdf
PRE PAID LEGAL
TAKE SHAPE FOR LIFE - MEDIFAST
ALL EXONERATED OF PYRAMID CHARGES BY BARRY MINKOW!
Minkow’s Fraud Discovery Institute was crooked. After attacking public MLM Companies his run at short selling MLM fraud is over.
Editor’s opinion Notes: Minkow’s Fraud Discovery (Creation I call it) Attacked MLM Public Companies and raped their stock. It is too bad that his cohorts in some of these scam tricks Robert Fitzpatrick and Jon Taylor have NOT gotten hand cuffs too!
SEE Wall Street Journal article
MLM LIES - MLM FRAUD EDITORIAL OPINIONS
Robert Fitzpatrick has had a good time kicking MLM – Network Marketing on Showtime's comedy channel. Let's hope he let something slip that will get him burned by the SEC investigation below or the Medifast lawsuit.
June 25th 2010 – News about the SEC subpoenaing Sam Antar for 37,000 documents in their investigation of a California-based research firm called the Fraud Discovery Institute, a company belonging to Barry Minkow, A NEWLY INDICTED criminal, continues to spread. Editors opinion note: Minkow was aided by Robert Fitzpatrick who, by his past actions, is an un-convicted felon in your editor's opinion BY HIS OWN BOOK......................Minkow served seven years in prison.
Minkow's FDI has been aided by Robert Fitzpatrick another admitted scam artist (his own book) who did not go to jail. Robert Fitzpatrick and John Taylor are two anti-MLM Zealots who produced “supposed” documentation the publically traded MLM companies were scams. Attacked were: USANA, Herbalife, Prepaid Legal, Medifast.
"TAKE SHAPE FOR LIFE" ATTACKED BY FRAUDULENT DISCOVERY INSTITUTE
Feb 17 2009 -- Medifast Inc the owner of Shape For Life Network Marketing Company, rejected as "false" Barry Minkow's Fraud Discovery Institute report (written by Robert Fitzpatrick*) charging Medifast of sucking in consumers to become health "coaches. Robert Fitzpatrick does not know how to read a compensation plan. The big bounties he talks about in his jerk headed report are on “clients” which are end consumers. Medifast Chief Executive Officer called the claims "spurious." The MLM WatchDog agrees and thinks that Medifast should help Minkow go back to prison.
CLICK ABOVE TO READ FULL DETAIL
June 2008 -- The MLM WatchDog is hot on this because this action hurt 1000's of little guys that bought shares of their company's+. Distributors for the MLM companies were attacked. Why? Because a lot of the buyers of MLM company public stock are THE COMPANY Distributors. So instead of helping the public these stock shorters are hurting the little guy.
COMPILATION OF INDUSTRY EXPERTS REPORTS
These Anti-MLM Critic fanatics ARE AMAZING because of false beliefs.
KEY WORDS: BARRY MINKOW, FRAUD DISCOVERY INSTITUTE, JON TAYLOR, ROBERT FITZ PATRICK