San Diego-based Metabolife pleads guilty to falsifying tax returns
By Hubert Vigilla
Published on October 06, 2005
According to Metabolife attorney Robert Humphreys, the bankrupt company failed to report income of more than $1 million in 1997 and 1998. By understating income, Metabolife avoided payment of more than $339,000 to the Internal Revenue Service.
Metabolife is currently facing a number of other legal problems, the most serious of which involves federal charges of lying to the Food and Drug Administration about the health risks of Metabolife 356, the company's flagship, ephedra-based product. An estimated 155 deaths from strokes, heart attacks and other serious injuries have been linked to Metabolife 365.
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