Independent Democratic Conference Leader Jeff Klein praised a documentary premiering at the Tribeca Film Festival that shines a critical light on the multi-level marketing company Herbalife.
Klein, a Bronx Democrat, has been deeply critical of company’s marketing and business strategies, which he says takes advantage of low-income minorities.
The movie, Betting on Zero, reviews the company’s feud with investors as well its impact on those who are under its employ.
“Bravo to Betting on Zero director Ted Braun and his team who spent over three years examining the financial harm inflicted on tens of thousands of Latinos across the country by multi-level marketing company Herbalife,” Klein said in a statement. “Six months ago, my undercover research exposed Herbalife as a ‘get-rich-quick’ scheme where new recruits lured into a ‘business opportunity’ and wind up losing thousands of dollars.”
Klein backs a bill that would create regulations, oversight and transparency requirements for multi-level marketing companies like Herbalife.
“Shining the light on Herbalife and their deceptive business practices is incredibly important to me and this documentary, which premiered last night at the TriBeCa Film Festival, further vindicates my work protect victims by passing legislation,” he said. “I hope that other regulators take this issue as seriously as Mr. Braun and I do.”
