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Dean Keep’s select articles & media mentions regarding Multi-Level Marketing


Multilevel Marketing and Pyramid Schemes in the United States: An Historical Analysis,” by William W. Keep, Dean and Professor of Marketing, The College of New Jersey and Peter J. Vander Nat, Senior Economist, Bureau of Economics, Federal Trade Commission. Journal of Historical Research in Marketing, Vol. 6, No. 2, 2014.

Battle Goes Beyond Herbalife, Hedge Funds,” by William W. Keep, Dean and Professor of Marketing, The College of New Jersey, CNBC Commentary, March 11, 2013.

Marketing Fraud: An Approach for Differentiating Multilevel Marketing from Pyramid Schemes,” by Peter J. Vander Nat and William W. Keep. Journal of Public Policy & Marketing; Spring 2002; 21, 1.

Seven Common Misconceptions About Multilevel Marketing & Pyramid Schemes,” by William W. Keep, Dean and Professor of Marketing, The College of New Jersey.

A Legislator’s Guide to Pyramid Schemes,” by William W. Keep, Dean and Professor of Marketing, The College of New Jersey, October, 2015.



Letter to Edith Ramirez, Chairwoman, Federal Trade Commission, 6/17/13

Letter from Laura DeMartino, Chief of Staff for Chairwoman Edith Ramirez, Federal Trade Commission, 7/26/13

Letter to Mary Jo White, Chair, U.S. Securities and Exchange Commission, 6/16/14

Letter to Warren Buffet, Chair and CEO, Berkshire Hathaway, 8/25/14


Interviews & Quotes:

New York Post, “Expert calls on SEC to crack down on Herbalife,” by Michelle Celarier, 6/24/2014

U.S. 1 Newspaper: “What’s Business School For?,” by Diccon Hyatt, 6/11/2014

The Atlantic: “Is Herbalife a Pyramid Scheme?,” by Frank Partnoy, 5/21/2014

The Star-Ledger: “In Ackman vs. Herbalife drama, NJ professor gets cameo role,” by Ed Beeson, 3/16/2014

FTAlphaville: “Not just Herbalife, but an entire industry selling to itself,” by Dan McCrum, 2/24/2014

FTAlphaville: “The multi-level endgame, part one: the FTC“, by Dan McCrum, 2/12/2014

Bargaineering: “Multilevel marketing’ schemes like Herbalife, Amway and Juice Plus are bullshit and here’s why,” by Claes Bell, 2/7/2014

The Varsity: “Verve’s Sweet Deal,” by Dan Seljak, 2/3/2014

Reuters:  “China’s Nu Skin probe may help Ackman’s Herbalife bet,” by Svea Herbst-Bayliss, 1/16/2014

The Verge: “Is the FTC ready to take on multi-level marketing?,” by Matt Stroud, 12/23/2013

FTAlphaville: “A few reasons to sell Herbalife,” by Dan McCrum, 12/13/13

FTAlphaville: “Herbalife and the FTC,” by Dan McCrum, 9/25/2013

Bloomberg: “Amway Bankrolls Harvard Course For Chinese Cadres,” by Bloomberg News, 9/24/2013 “Pyramid Scheme Expert Issues Warning about Vemma,” 9/17/2013

Wall Street Journal: “Amid Herbalife Debate, Prof. Keep Gets Some Hedge-Fund Pupils,” by Emily Glazer, 8/30/2013

Reuters: “Herbalife billionaire brawl puts spotlight on N.J. professor,” by Svea Herbst-Bayliss and Jennifer Ablan, 8/29/2103

FTAlphaville: “Herbalife distribution network in the spotlight,” by Dan McCrum, 8/15/2013

Forbes: “Why The FTC Won’t Take Bill Ackman’s Advice To Prosecute Herbalife (Even Though It Should),” by Matt Stroud, 7/22/2013

New York Post: “FTC may reclimb pyramid scheme,” by Michelle Celarier, 6/25/2013

Bloomberg Businessweek: “Short Seller Bill Ackman’s Crusade Against Herbalife,”  by Duane Stanford, 1/10/2013

NJBiz: “TCNJ dean keeps eye on Herbalife kerfuffle,” 1/10/2013

NBC News: “For many Herbalife recruits, lost money and dashed dreams,” 1/10/2013

CNBC: “From High Energy Clubs to Dashed Dreams: Herbalife Tales,” by Herb Greenberg, 1/9/2013



Bloomberg TV: “Timing of FTC Probe on Herbalife Surprising: Keep.” William Keep, dean of the business school at The College of New Jersey, talks about the Federal Trade Commission’s probe into Herbalife Ltd. into its business practices. Keep speaks with Stephanie Ruhle and Erik Schatzker on Bloomberg Television’s “Market Makers,” 3/13/14

Bloomberg TV: “An Inside Look at the Icahn, Ackman Herbalife Feud.” Optionshop Chief Market Strategist Alan Knuckman and College of New Jersey Dean of Business Bill Keep look at the Herbalife feud between Carl Icahn and Bill Ackman, 2/19/ 2013

Bloomberg TV: “College of New Jersey’s Bill Keep on Herbalife.”  Bill Keep, dean of the School of Business, talks about hedge fund manager Bill Ackman’s theory that Herbalife Ltd.’s business model is a pyramid scheme and the SEC’s investigation into the company. He speaks with Scarlet Fu, Julie Hyman and Stephanie Ruhle on Bloomberg Television’s “Market Makers,” 1/10/2013

NBR: Dean Keep appeared on CNBC’s Nightly Business Report, 1/10/2013



Business Talk With Jim Campbell (radio broadcast): “Business Talk with Jim Campbell – Is Multi-Level Network Marking Company Herblife a Pyramid Scheme?,” 9/30/2013


Miscellaneous References:

FTC v. BURNLOUNGE, INC. Appellate decision, United States Court of Appeals for the Ninth Circuit

Letter from Laura DeMartino, Chief of Staff, Federal Trade Commission, 7/26/ 2013

Pyramid Sales Are Now Chief Consumer Fraud Here,” by Grace Lichtenstein, New York Times, 4/3/1973

Myths About Nutrition,” The New York Times, 7/25/1957

Letters: Readers Talk Back – Nutrilite,” by William S. Casselberry, Changing Times, Feb. 1952; 6, 2

Nutrilite Cited For False Claims,” The New York Times, 5/22/1951


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