Herbalife Director Didn’t Know He Had Been Indicted A Year Before He Joined The Board

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It seems that Herbalife Chairman’s Club member and director Pedro Cardoso was involved in a private matter back in 1998. He says it’s no biggie; Brazilian prosecutors say it was a scheme to embezzle $10.4 million from a Brazilian state. So they indicted him 10 years later, which is apparently news to Pedro Cardoso, even though the Brazilians tried to let him know about it in 2010.

Cardoso said in a statement dated this week emailed to Reuters by an Herbalife official that the lawsuit was a private matter dating back to 1998 which had no bearing on his work for the company, and that he was unaware he was being sought in the case.

"I have received no official notification of any kind with regards to this matter," he said.

Herbalife board member a target in long-running Brazilian fraud case [Reuters]

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