Herbalife Calls Bill Ackman “The Worst Of Wall Street”

 
Herbalife’s digital media strategy fighting off Bill Ackman’s short campaign appears to include comparing the fund manager to Jordan Belfort-a convicted felon who ran a 90s-era boiler room, wrote a best-selling book and had a movie starring Leonardo DiCaprio made about him.
On July 17, verified Twitter account @HerbalifeTRUTH tweeted a superimposed an image of Ackman on a “Wolf of Wall Street” movie poster calling him the “Worst of Wall Street.” 
The Twitter account linked to a press release slamming Pershing Square’s short bet against Herbalife.
“Ultimately, Pershing Square’s campaign is based on propaganda, and we look forward to demonstrating that its assumptions will crumble under serious and independent scrutiny.”
It’s unclear who exactly is behind the @HerbalifeTRUTH Twitter account. It links back to Iamherbalife.com. The two authors listed on the site areHerbalife and Andy Amsler, who works for digital media campaign company Podesta Group.
Ackman is loudly short Herbalife-a multi-level marketer that sells weight loss shakes and nutritional supplements. Ackman believes the company operates as a “pyramid scheme” that targets lower income individuals.
Herbalife has denied and continues to deny Ackman’s accusations.
On Tuesday, Ackman will be giving another one of his presentations on an investigation into how the company operates its nutrition clubs.
“An in-depth analysis and examination of these clubs-which Herbalife claims

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TelexFree Hearing Next Week

 
A hearing will be held in Boston next Tuesday to determine whether an Ashland man accused of running an international pyramid scheme can access $4 million of his money to help fund his defense.
TelexFREE co-owner James Merrill initially asked the U.S. District Court two weeks ago to release the funds, which he said are necessary to cover the exorbitant cost of defending himself against a charge of conspiracy to commit wire fraud.
But government prosecutors have resisted, telling the court Merrill has not shown the money didn’t come from TelexFREE, which several state and federal agencies have charged with being a pyramid scheme.
The hearing will be held before Magistrate Judge David H. Hennessy at 9:30 a.m., according to court records.
 
TelexFREE was ordered to shut down last summer in Brazil, after a judge ruled it a “financial pyramid” scheme, according to news reports.
Galvin’s complaint says the company has raised over $1 billion worldwide, “often from honest earnings and savings accounts of Brazilian-Americans and other minorities.’’
The scheme works by constantly bringing in new money, the state alleged. For instance, participants are recruited to invest either $289 or $1,375, and receive a number of advertising kits in return. By posting ads on web sites

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