From the MLM Watch Dog:
In the 1990’s “Fruit of the Loom” started loosing millions of dollars. In 1999 the Board of Directors of Company dismissed Bill Farley and filed bankruptcy shortly there after. The “Oracle of Omaha” Warren Buffet said in a letter in 2002 that Fruit of the Loom was a victim of too much debt and poor management. Later Fruit of the Loom sued Farley over loans the company had helped him secure. They reached a settlement with Bill Farley. Then Farley defaulted on the court settlement by failing to deliver $2 million as promised.
In 2004, Farley bought Body Wise International Inc. Body Wise located in California that sells/sold nutritional. Body Wise had been a major MLM – Network Marketing major name in years past. In January of 2005 Body Wise settled with the FTC for making deceptive claims for a dietary supplement. Body Wise had to pay $1.58 million to the State of California and $2 million dollars to the FTC.
Associates of Body Wise claim Farley cut commissions to associates and then sued them when they left the program.
Today, the MLM Rumor Mill is buzzing about whether or not Bill Farley has enough money to keep Zrii in business given the current economic conditions.
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The morale here: don't let your company be run by Bill Farley.
Great piece of detective work! Personally I believe there are only 7 MLM companies that are worth any professional investing in.
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Wow – All I've ever heard about Bill Farley is his deep pockets. This was some very interesting information. Thanks for sharing.
Everyone deserves to be forgiven and given more chances to get things right. We are all human and all flawed…