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Friday, June 17, 2011

Don Lapre Tv Pitchman Faces 25 Years in Jail for scamming over 200.000 People to the value of $52 Million Fraud - 17th June 2011

Renowned TV pitchman Don Lapre has been arrested on charges that he defrauded more than 200,000 people of nearly $52million.

The frontman, known for his emphatic salesman's style, has been indicted by a grand jury in Phoenix, after being accused of running a nationwide scheme to sell worthless Internet-based businesses to fans.

Lapre has been charged with 41 counts of conspiracy, mail fraud, wire fraud and promotional money laundering.

The charges carry potential fines of between $250,000 and $500,00 per count and federal prison terms of between five and 25 years.

Lapre is accused of overseeing and promoting the opportunity through his often mocked company 'The Greatest Vitamin in the World'.

The company recruited hundreds of thousands of people to start up web-based businesses selling vitamins under the premise that it would provide support and marketing through expensive ads.

Investors who bought into Lapre's Greatest Vitamin business model, however, were allegedly misled as the company tried to get them to purchase additional advertising and other services.

The company was shut down in 2007 after customers filed hundreds of complaints with the Phoenix Better Business Bureau, Arizona Attorney General's Office, Federal Trade Commission, Internet Crime Complaint Center and the postal inspection service.

Meanwhile, Lapre was personally paid more than $2.2 million from the business between 2004 and 2007, according to the indictment.

During the course of the scheme, at least 220,000 victims were defrauded of nearly $52 million, according to U.S. Attorney for Arizona Dennis Burke . Read More