It's the weirdest thing; it's like we never grew out of those days when peddlers went from town to town selling one bogus potion or another. Somehow, despite regulations and laws, many of those fraudsters still manage to pull the wool over so many eyes and sell their products by the millions. Perhaps it's the promised hope that we just can't resist.
Berkeley Premium Nutraceuticals is one such company, known for making and marketing Enzyte, the so-called "once a day natural male enhancement" -- whatever that means. From the commercials it can mean anything from self confidence to bigger appendages, I guess, but it's called a sexual enhancement.
Good news, though. The founder of Berkeley, Steve Warshak, joined the infamous WorldCom's Ebbers and Enron's Skilling with his own 25-year jail sentence on Wednesday. He was convicted earlier this year on 93 counts of conspiracy, fraud and money laundering.
According to the AP, "Federal prosecutors accused the company of bilking customers out of $100 million through a series of deceptive ads, manipulated credit card transactions and refusal to accept returns or cancel orders." Berkeley Premium and other defendants were ordered to forfeit $500 million.
The judge called it a "case about greed," but I also call it a case of unbelievable naivete (and I won't say bordering what) on the part of the millions who bought into Berkeley's claims. In their defense, however, it's quite possible many thought that since drugs are regulated by the FDA, and since advertising is regulated by the FTC, then perhaps there was some truth to the Enzyte claims. Indeed, when comparing Viagra commercials to beer commercials it could be perhaps confusing to see when valid medical claims stop and fantasies begin. Maybe the regulators should be stricter, especially with nutritional supplements.
While over half a billion dollars would be forfeited, I doubt any consumers would get their money back unless they come forward. And I don't think many, if any, would. Perhaps authorities could use the money to further crack down on other such fraudsters.
If you somehow missed the "Smiling Bob" Enzyte commercials, here are a few:
Short version
Santa Bob
Bob skiing
Closing Bell: When We All Love the PIIGS (NBG, SQNM, PG, ERTS, KO)
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Chasing Value: Hasbro Earnings Makes My Point
Reader Comments (Page 1 of 1)
8-28-2008 @ 5:21PM
Marie said...
I have seen the silly commercials, guess they made them very silly so we the viewer, would remember them, but its a little disturbing to think the owner knew he was selling snake oil, made a large amount of money, and not that he believed in his products and it didn't work out.
8-28-2008 @ 9:16PM
Antho said...
Now if they can only put the Video Professor in jail, alond with the scam peddlers of all the "free" prducts and pills and when dupped you end up paying $20.00 to $30.00 dollars for something thats costs less then $1.00 to ship. Why isnt the FTC, FCC and AG putting all of these fraudsters in jail also??? Absolutely no protection for consumers and a class action should be filed against the television and radio stations for helping aiding these frauds, they are just as guilty.
8-29-2008 @ 2:25AM
Bellcord said...
This guy had several states shut him down over the years so he can't say he wasn't warned....took down his 75 year old mother for 2 year Federal sentence as well..Thank Goodness the crap didn't work ..if it had it would also have enlarged your nose and ears too...
11-03-2008 @ 1:55PM
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