Fraud at Berkeley Premium Nutraceuticals, Inc
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The paper details the lawsuit that accused Berkeley Nutraceuticals of numerous accounts of fraud, including luring customers in with a free trial offer and then billing them without their knowledge, false and unsubstantiated claims about their products' effectiveness, money laundering, mail fraud and bank fraud. The paper describes how the company was defiantly defrauding its customers and operating under unethical principles. The paper learns from here that an ethical company will tell the truth about the products that it sells, it will never cheat customers out of money and it will not let greed determine its business practices.
From the Paper:"There are three main things that a business needs to remember in order to stay out of trouble. First, always tell the truth about the products that you are selling, never cheat your customers out of money and don't be greedy. Engaging in these practices can do nothing but lead to trouble and nobody knows that better now than Steve Warshak and Berkley Premium Nutraceuticals. In the beginning Steve Warshak could not seem to understand that what he was doing was wrong, but hopefully after spending the next 25 years reflecting about his actions, he will finally get it.
"In the beginning Berkeley Premium Nutraceuticals goal was to provide their customers with only the best natural supplements available to help improve their health and the health of their loved ones. They believed that many health concerns could be addressed without resorting to pharmaceutical options or cheap herbal cure-alls. Since opening their doors in 2001, Berkeley Premium Nutraceuticals has focused on providing quality natural supplements, with superior formulas that use only premium ingredients, manufactured according to exacting standards (Berkeley Premium Nutraceuticals, Inc., 2009). This philosophy is what Berkley made available on their web site for everyone to read, if only they had practiced what they preached."
Sample of Sources Used:
- Berkeley Nutraceuticals files for Chapter 11 bankruptcy. (2008). Retrieved June 10, 2009, from Business Courier Web site: http://www.bizjournals.com/cincinnati/stories/2008/09/15/daily26.html
- Berkeley Premium Nutraceuticals, Inc. (2009). Retrieved June 10, 2009, from Business Courier Web site: http://www.bizjournals.com/gen/company.html?gcode=434302AF3550492E889B9717140A FDC6&market=cincinnati
- Berkeley president, others indicted for fraud. (2006). Retrieved June 10, 2009, from Business Courier Web site: http://www.bizjournals.com/cincinnati/stories/2006/09/18/daily37.html
- Company touts pills for middle-age ailments. (2004). Retrieved June 10, 2009, from MSNBC Web site:http://www.msnbc.msn.com/id/6513891/
- Enzyte maker calls raid 'unwarranted'. (2005). Retrieved June 10, 2009, from Business Courier Web site: http://www.bizjournals.com/cincinnati/stories/2005/03/14/daily35.html
Cite this Term Paper:
Fraud at Berkeley Premium Nutraceuticals, Inc (2011, November 30) Retrieved July 10, 2020, from https://www.academon.com/term-paper/fraud-at-berkeley-premium-nutraceuticals-inc-149224/
"Fraud at Berkeley Premium Nutraceuticals, Inc" 30 November 2011. Web. 10 July. 2020. <https://www.academon.com/term-paper/fraud-at-berkeley-premium-nutraceuticals-inc-149224/>