White collar criminal Barry Minkow has been investigating multi-level marketing schemes such as Usana Health Sciences, Herbalife Ltd., and PrePaid Legal. One of the most recent revelations by Minkow and his Fraud Discovery Institute was that the president of Herbalife, Gregory Probert, did not have the MBA he and the company claimed in SEC filings.
This revelation led to Mr. Probert resigning from Herbalife last week. Are you asking yourself why this is a big deal? Heck, even a Goldman Sachs analyst said the lie was nothing to be concerned about.