Herbal Fraud 

04/30/2008 

Many people in the "natural food" and "healthy living" world are aware of the corruption and  problems in the food and pharmeceutical industries.  What they are not often aware or, or willing to beleive, is the amount of corruption that also exists in the world of natural food and healthy living.

There is corruption on all sides.

Gregory Probert, the president and chief operating officer of Herbalife Ltd., was caught embellishing his academic credentials by a fraud investigator who has bet against the company's stock.

Herbalife, a Los Angeles marketer of weight-loss products, has said Mr.Probert received a Master of Business Administration degree from California State University, Los Angeles. It mentioned the degree in at least 19 filings with the Securities and Exchange Commission.

But Mr. Probert never finished Cal State's M.B.A. program, where he took classes in the early 1980s, the university said. The disclosure came after a critic of the company, Barry Minkow, hired a private investigator to verify Herbalife executives' biographies.

http://online.wsj.com/article/SB120908803557643829.html?mod=todays_us_marketplace

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