TV Pitchman Donald Lapre Accused Of Running $52M Scheme

Woops..

Donald Lapre TV Pitchman

I sometimes watch pitchmen like Don Lapre pitching their get rich quick schemes on late night cable TV. As i tell others, the only one getting rich on this deal is the TV Pitchman selling the product!

Just Remember: There IS NO FREE LUNCH! And there is no get rich Magic Pills, or Bargain Website package where you just pay a small processing fee and become a Millionare Overnight!

Possibly the greatest scam in the world!

Renowned TV pitchman Don Lapre has been arrested on charges that he defrauded more than 200,000 people of nearly $52million.

TV pitchman Don Lapre faces 25 years in one bedroom prison cell over ‘$52million fraud’

The frontman, known for his emphatic salesman’s style, has been indicted by a grand jury in Phoenix, after being accused of running a nationwide scheme to sell worthless Internet-based businesses to fans.

Lapre has been charged with 41 counts of conspiracy, mail fraud, wire fraud and promotional money laundering.

The charges carry potential fines of between $250,000 and $500,00 per count and federal prison terms of between five and 25 years.

Lapre is accused of overseeing and promoting the opportunity through his often mocked company ‘The Greatest Vitamin in the World’.

The company recruited hundreds of thousands of people to start up web-based businesses selling vitamins under the premise that it would provide support and marketing through expensive ads.

Investors who bought into Lapre’s Greatest Vitamin business model, however, were allegedly misled as the company tried to get them to purchase additional advertising and other services.

The company was shut down in 2007 after customers filed hundreds of complaints with the Phoenix Better Business Bureau, Arizona Attorney General’s Office, Federal Trade Commission, Internet Crime Complaint Center and the postal inspection service.

Meanwhile, Lapre was personally paid more than $2.2 million from the business between 2004 and 2007, according to the indictment.

During the course of the scheme, at least 220,000 victims were defrauded of nearly $52 million, according to U.S. Attorney for Arizona Dennis Burke .

The U.S. Attorney’s Office said Wednesday that Lapre is scheduled to be arraigned June 22 at U.S. District Court in Phoenix.

Lapre, 47, is known for his television appearances on shows such as ‘Making Money From A Tiny One Bedroom Apartment’.

The pitchman, who refers to himself on his website as ‘The King of Infomercials’, would recount his hard-luck life story to viewers, encouraging them to turn their lives around like he had.

He is notorious for speaking elaborately to the camera about how he managed to make $50,000 a week from his one bedroom apartment – and has been parodied widely, most notably by David Spade on Saturday Night Live.

‘I found tiny classified ads that made $30 to $40 dollars profit in a week and I placed those ads in around a thousand other newspapers around the country.

‘That’s how I generated over $50,000 a week out of my one bedroom apartment’

Don Lapre

Lapre was often seen on television giving his hard-luck life story and how he was able to turn his life around. He refers to himself on his website as “The King of Infomercials.”