Wednesday, October 2, 2013

Another High-Flying Herbalife Rep Crashed and Burned... Who's Next?

Michael Burton, another high-flying Herbalife salesman, who claimed to be pulling in 25K a month, and showed off his 6-pack abs, dramatic transformation from his days as overweight car salesman. Both of which he attributed to Herbalife. Even just last week at an Herbalife event in Germany he reported that things are going great. 

NYPost found a very different picture in the US. Burton, and his wife have actually declared bankruptcy over the summer, owing over 8 MILLION dollars, including 1 million to the IRS. Their total assets? Less than 75000 TOTAL, TOGETHER. House was already foreclosed, and less than $100 in the bank. 

Burton owed a LOT of money, several hundred thousand, to lead generator companies that was recently banned by Herbalife. Though in various statements, Burton stated that Herbalife had NOTHING to do with his financial problems. 

What's even more interesting is Burton apparently owes Herbalife money for "personal guaranty of corporate distributorship agreement."  Is that some sort of a sweetheart deal between Burton and Herbalife corporate?

Read the full article at NYPost
Enhanced by Zemanta

No comments:

Post a Comment