Metabolife Founder Discusses Prison Term
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Michael Ellis, founder of the diet pill company Metabolife, just completed a six-month term in federal prison. Ellis pleaded guilty to lying to the Food and Drug Administration about a letter that claimed no customer complaints about Metabolife.In a new book, Ellis said the he did not know about the letter until two years after the fact.
In the late 1990s, Metabolife was a wonder drug. It was a "natural" food supplement that stripped away pounds without diet or exercise. Sales of the product zoomed to over $1 billion a year. However, that came to an end, as Metabolife was blamed for seizures, heart attacks and strokes. Ellis faced prosecution for tax evasion, weapons violations and lying to the FDA.