MLM Scheme, Mannatech, Pays Millions to Victims for Making False Claims of Cures and Health Benefits
News from Pyramid Scheme Alert: Mannatech, a long time MLM company, member of the Direct Selling Association and publicly traded on the New York Stock Exchange, has agreed to pay millions of dollars to consumers who were deceived by its false health claims about its products. The state of Texas, where the scheme is based, [...]
Mannatech results: Brain damage and more
A child suffered for two weeks with a heart condition, while her father gave her large doses of Mannatech products in an attempt to “cure” her. The result? Her mouth was damaged, she’s confined to a wheelchair, and has cognitive (brain damage) problems. The Australian reports:
Mannatech receives Wells Notice from SEC
In July of last year, the Attorney General of Texas filed a lawsuit against multi-level marketing company Mannatech (NASDAQ:MTEX), alleging the company used illegal sales and marketing practices. Then in August, the company’s CEO, Sam Caster, stepped down. Although he resigned as CEO, he stayed on as chairman of the board. In October, Grant Thornton, [...]
Primerica Financial Services a scam?
Over on my consumer awareness site, Pink Truth, I have put together a few articles about Primerica Financial Services. Like Mary Kay, Usana, and Mannatech, Primerica is a multi-level marketing company (MLM). The big difference, however, is that these other companies have a tangible product for sale, and many of the abuses come from loading [...]
Mannatech fires auditors Grant Thornton
Mannatech Inc. fired its auditors, Grant Thornton, after refusing to comply with GT’s demand that Sam Caster be removed from all duties. Caster is the founder of Mannatech and the current chairman of the board. He resigned as CEO two months ago after Texas started legal proceedings against the company for making illegal health claims [...]
Mannatech CEO quits to devote more time to Mannatech
Okay, I admit it. That headline comes straight from Zac Bissonette at Bloggingstocks. I couldn’t help it though. It’s just so…. so…. right. In July, the Texas Attorney General filed suit against Mannatech to stop the company from using illegal sales and marketing practices. The suit says that company associates have claimed the products cured, [...]
Texas Attorney General finally goes after Mannatech
According to an article in the Wall Street Journal, the Texas Attorney General is finally going after Mannatech Inc. Named in the suit are Mannatech Inc., Manna Relief Ministries, The Fisher Institute Samuel L Caster (Chairman and CEO of Mannatech), and Reginald McDaniel (Medical Director). The allegations include: Mannatech markets dietary supplements as a cure, [...]
Legal inaction against Mannatech?
The Texas Attorney General doesn’t want to talk about why his office hasn’t taken legal action against multi-level marketing company Mannatech. His office was informed on October 5 by the Department of State Health Services that Mannatech is a threat to public health and safety. Mannatech was recently featured on ABC’s news program 20/20. The [...]
