Robert L. FitzPatrick is an expert in examining and revealing deception and fraud in Ponzi schemes, pyramid schemes and bogus home-based businesses. He is an internationally recognized authority in multi-level marketing schemes and pyramid sales fraud. Robert FitzPatrick is not an investor in multi-level marketing companies. He has never owned and never plans to own stocks of multi-level marketing companies. He does not offer investment advice and he is not an attorney. He is co-author of False Profits, the first book to critically examine the recent rise in pyramid and Ponzi schemes in home-based businesses. He was featured on NBC Dateline, ABC World News, and he was interviewed by correspondent Mike Wallace on CBS 60 Minutes. He has been interviewed live on NBC Today show, Canada's CBC National News, Christian Broadcasting Network, and on several BBC radio news programs aired in the UK. He has been quoted in many newspapers around the world, including the New York Times and Wall Street Journal. In 2012, False Profits will be published in Mandarin by Nanjiing University Press. The booklet, Pyramid Nation by Robert FitzPatrick, has been translated to Chinese and used by government regulators in writing China's first laws on pyramid schemes. His essay, "The 10 Big Lies of Multi-Level Marketing", has been translated into four languages and posted on numerous websites. His White Paper, "The Main Street Bubble", which details the extensive influence-buying of the direct selling industry and in the failure of federal regulators to protect consumers from pyramid marketing fraud has been read by staff circulated among members of Congress. In June 2005, Robert FitzPatrick was asked by the Central Bank of Sri Lanka to address banking representatives from that country as well as India, Bangladesh, Bhutan, Maldives and Nepal in Sri Lanka's capital, Colombo. The presentation was later published as part of a consumer education campaign against pyramid and Ponzi schemes. Robert FitzPatrick was a featured speaker at the 2006 annual meeting in San Francisco of the Association of Certified Fraud Specialists. He has developed informational resources for consumers, journalists, academics and regulators including a multi-media PowerPoint presentation and a statistical analysis of the losses suffered by participants in pyramid selling schemes. He also published a widely read booklet on the landmark federal case brought against the Amway Corporation. He is a expert network member of GLG Research, and Coleman Research Group, as well as other networks of experts who are referred to clients for consultation, speaking and report writing. In this capacity, he has provided expert consultation to financial many analysts who sought information about multi-level marketing companies and pyramid and Ponzi schemes. Robert FitzPatrick co-founded and serves as president of Pyramid Scheme Alert, the first international organization to expose and prevent pyramid scheme fraud. He personally responds to hundreds of consumer and news media inquiries. He has served as consultant and expert witness for Attorney General or State Attorney offices in four states, the US Dept. of Justice, and in numerous cases involving distributor fraud and pyramid schemes.
Our mission is to expose and eradicate fraud, particularly pyramid/Ponzi schemes. During the decade since we became a non-profit organization, knowledge of our organization has spread far and wide. With information that flows into our organization we are now able to prevent pyramid/Ponzi schemes sometimes before they "launch."
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These schemes are ravishing churches, universities, colleges and now even high schools ensnaring unwitting students... It is unconscionable: It is abhorrent: It is illegal!!!
Vemma MLM fraud, shut down as a pyramid scheme in Italy, their cheerleader TV’s Doctor Oz, was found on school property in Ontario, Canada targeting and recruiting students as young as 14 years of age brainwashing them into the pitch of “unlimited income,” expensive cars etc.
Our Canadian and U.S. authorities sit back doing little or nothing: In Canada for certain and perhaps as well in the U.S., authorities harass, intimidate, threaten, assault and persecute victims and whistle-blowers.
Government personnel, law enforcement, some school board officials, teachers, church ministers, even prosecutors are the very perpetrators of these fraudulent schemes. It is truly abhorrent!!!
David John Thornton
Bumbershoot Holdings L.P. is a private investment partnership launched in Oct-2015.
The partnership uses a fundamental investment strategy as a “quality over quantity” approach to identifying and evaluating great businesses. It primarily invests in small- and mid- capitalization public companies which are headquartered in the U.S. and listed on a domestic exchange. It maintains a relatively concentrated portfolio with approximately 60%-75% of assets in its top-15 holdings. The partnership utilizes low levels of leverage and hedges net long exposure through various short positions and equity derivatives, as dictated by overall market conditions.
John Gilliam holds a BBA from Millsaps College and a JD from the Cumberland School of Law. He is the manager of Point Clear Strategic Holdings in Point Clear, Alabama. Point Clear Strategic invests in value oriented small cap technology companies.
Visit: Point Clear Strategic Capital (http://www.pointclearstrategiccapital.com/)
I've been both a social-justice activist and iconoclast for most of my adult life. Since 2012, I've been a proud MLM-described "(illusory) dream stealer" and "loser", as well as a card-carrying fraud "hater". I'm nothing less and claim nothing more.
My current focus is on the consumer abuses endemic in MLM. I'm also an uncompensated member of the entirely self-funded International Coalition of Consumer Advocates (ICCA) and its steering committee.
I earned a BSBA at The University of Colorado in 1983, where I also studied philosophy and logic. I consider having no more advanced or current credentials a handicap. Nonetheless the formal education I do have gives me a foundation for my business analyses. I spent eight-and-a-half years observing four MLMs up close through family members. I also served in administrative support capacities for one of them. While I regret that history, it afforded me insight and understanding that is useful in my MLM analyses. I'm also retired after a twenty-five year EMT/paramedic career and a nine-year overlapping career in EMS education.
My only connection to investment markets is passive, through my pension fund. I'm here because SA's Herbalife-related articles and fora have essentially become central to the ongoing public debate vis-à-vis MLM.
I'm just a long term investor who is eager to read and learn,
My favourite investors, those who inspire me, are Warren Buffett and Charlie Munger, Peter Lynch, Donald Yacktman, James Montier,Jeremy Grantham, Pat Dorsey, Mike Burry and more to come.