NEW YORK--(BUSINESS WIRE)--Pershing Square Capital Management released an educational video in both English and Spanish to better inform individuals about pyramid schemes and to help them avoid falling victim to such scams. The video outlines how pyramid schemes lure potential distributors by promising financial independence and an opportunity to build a business. The reality is that the vast majority of pyramid scheme participants will fail and lose money.
The English version of the video can be found here and the Spanish version can be viewed here.
“This video will help consumers avoid being defrauded. I encourage you to send it to five friends and encourage them to send it to five friends who can send it to five friends and so on, and we can fight pyramids with our own pyramid,” stated Bill Ackman, Pershing Square Capital Management founder and CEO.
About Pershing Square Capital Management, L.P.
Pershing Square Capital Management, L.P. ("Pershing Square"), based in New York City, is a SEC-registered investment advisor to private investment funds. Pershing Square manages funds that are in the business of trading — buying and selling — securities and other financial instruments. Funds managed by Pershing Square are short the stock of Herbalife Ltd and own put options on the Company. Pershing Square may increase, decrease, dispose of, or change the form of its investment in Herbalife for any or no reason, at any time. Pershing Square may change its views about or its investment positions in Herbalife at any time, for any reason or no reason. Pershing Square may buy, sell, cover or otherwise change the form or substance of its Herbalife investment. Pershing Square disclaims any obligation to notify the market of any such changes. Please see the full Disclaimer appearing on website www.factsaboutherbalife.com and www.herbalifepyramidscheme.com.