Source: Natural Products Industry Insider 4/22/2008
Court Upholds Seasilver 120M Fine
This latest decision requires the defendants-Jason and Bela Berkes, Seasilver USA Inc. and Americaloe Inc.-to pay almost $120 million under a 2004 agreement with FTC, which barred them from making false or misleading claims and included a $120 million judgment that would be suspended if they paid $3 million within a specified time. The defendants did not meet the required payment terms, and a June 2006 district court granted FTC's request to enforce the stipulated avalanche judgment. However, the defendants appealed this 2006 decision.
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