The following was just sent to us by Herbalife Illinois. There is a lot of important Herbalife related news today so please stay tuned…
Chicago, IL – Consumer and immigrant rights advocates from across the country traveled to Washington D.C., this month to demand that federal regulators conclude their investigation of Herbalife International, Inc., a multi-level marketing company accused of running an illegal pyramid scheme.
Representatives from HACES (Hispanic American Community and Education Services), a Waukegan community organization, joined other national and local groups in meetings with the Federal Trade Commission (FTC) and congressional leaders to discuss why the investigation has taken so long. According to advocates, the FTC summoned dozens of victims to Washington to conduct interviews and gather testimony for its investigation.
This fund run by a SAC Capital alum bought restaurant stocks amid the pandemic
Prentice Capital Management was up 6.6% for the first four months of the year, compared to the S&P 500's 9.3% decline and the Russell 2000's 21.1% decline. The HFRX Equity Hedge Index was down 9.4% for the quarter. Q1 2020 hedge fund letters, conferences and more Gross and net exposures In his first-quarter letter to Read More
In Illinois, Attorney General Lisa Madigan has also joined federal authorities in a state investigation of Herbalife. More than 100 victims from Illinois have filed complaints with the Attorney General and the FTC.
“It is the mission of the FTC and the Attorney General’s office to investigate claims of consumer fraud such as pyramid schemes, we ask that they conclude their investigation as quickly as possible to prevent more Illinois residents from becoming victims of Herbalife’s predatory business model. How much more time do they need?” said Maria Elena Jonas, HACES executive director.
Illinois resident testified against Herbalife
Illinois resident Rosa Montes was one of the victims that met with FTC investigators to testify regarding her involvement with Herbalife. As a single mother, Rosa decided to invest in Herbalife believing it would be her ticket to becoming a millionaire. After working Herbaife’s business model for three years, Rosa lost more than $62,000. She now uses her experience to help other victims come forward and seek legal assistance.
“Herbalife continues to profit by specifically targeting the Latino community,” said Rosa. “And it will continue if state and federal regulators don’t take action quickly.”
Community leaders urge additional victims to come forward by calling the Illinois Herbalife Campaign hotline at (855) 701-5437.