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Herbalife sells a range of nutritional products across the globe through a network of independent distributors

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...nent hedge fund manager, William Ackman, renewed his attack on the firm. William Ackman has been one of Herbalife’s biggest critics and has a $1 billion short sale position on the firm’s stock – betting that the share price will drop. He first publically accused Herbalife of running a pyramid scheme in 2012. On Tuesday, William Ackman accused the company’s China business of...

Allen Stanford has been sentenced to 110 years in jail for operating a Ponzi scheme that defrauded investors of more than $7 billion

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Tycoon Allen Stanford has been sentenced to 110 years in jail for operating a Ponzi scheme that defrauded investors of more than $7 billion. The scheme was described as one of the largest in US history. In court, Allen Stanford denied any guilt, telling the judge at his sentencing hearing: “I did not defraud anybody.” Allen Stanford, a Texan banker, rose to prominence outside the US w...

Yingluck Shinawatra is being investigated in connection with the government's controversial rice subsidy scheme

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...h the capital, saying they will shut it down until their demands are met. They accuse her government of being under the control of her brother, ousted former leader Thaksin Shinawatra. They say they want an unelected “People’s Council” instead, to reform the electoral system. The rice purchase scheme was launched in 2011, with the aim of boosting farmers’ incomes and helpin...

India is rolling out an ambitious plan for a cash payout of subsidies to the poor in 20 districts

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India is rolling out an ambitious plan for a cash payout of subsidies to the poor in 20 districts, officials say. Finance Minister P. Chidambaram said the scheme would benefit more than 200,000 people initially, and would cover the entire country by the end of 2013. Authorities say it will bring the country’s poorest citizens “into the mainstream”. But opposition parties have ac...

Yingluck Shinawatra has been summoned by an anti-corruption panel to hear charges of negligence over a government rice subsidy scheme

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Thai PM Yingluck Shinawatra has been summoned by an anti-corruption panel to hear charges of negligence over a government rice subsidy scheme. Yingluck Shinawatra’s opponents, who are seeking to replace her, say the program was rife with corruption. If found guilty, the prime minister could be removed from office and face a five-year ban from politics. Thailand’s political crisis has...

The Rolling Stones made their Glastonbury debut at Pyramid Stage

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...ally got round to asking us” to play. They are set to play for two-and-a-half hours, with tens of thousands of fans stretching up the hill to Worthy Farm. Organizers are expecting the festival’s biggest ever audience for a single act. The capacity for the main stage was increased to 100,000 this year. Michael Eavis has been trying to book the band almost since the first Glastonbury in...

Mumford and Sons have closed this year’s Glastonbury festival, with their first ever headline set on the Pyramid Stage

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...ry for a blood clot on his brain this month. They closed their set by playing the Joe Cocker version of A Little Help From My Friends, for which they were joined on stage by Vampire Weekend, The Vaccines and folk singers The Staves. This year’s Glastonbury Festival has seen 180,000 people descend on Michael Eavis’s Somerset farmstead. The music has catered to a wide range of tastes wit...

Chris Brown and Nicole Scherzinger enjoy a night out at Black Pyramid Party in LA

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...h former Pussycat Doll Nicole Scherzinger on Tuesday. Chris Brown and Nicole Scherzinger were a part of a star-studded line up that arrived to help host the Black Pyramid Party at Supperclub in Los Angeles. With Chris Brown, 23, fresh from a court appearance, he joined The X Factor UK judge as well as The Voice UK judge Will.i.am and singer Sean Kingston at the bash. Chris Brown- who arrived weari...

Cricket tycoon Allen Stanford has been found guilty by a court in Houston, Texas, of running a $7 billion Ponzi scheme

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Cricket tycoon Allen Stanford has been found guilty by a court in Houston, Texas, of running a $7 billion Ponzi scheme. Allen Stanford, 61, was convicted on 13 of the 14 charges. He had pleaded not guilty to defrauding some 30,000 investors with bogus investments through his Stanford International Bank in Antigua to fund a lavish lifestyle. Allen Stanford faces a sentence of up to 20 years in pri...

Full Tilt Poker built a global Ponzi scheme that bilked online players out of at least $390 million, said federal prosecutors

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...used its own players”, as insiders “lined their own pockets with funds picked from the pockets of their most loyal customers while blithely lying to both players and the public alike about the safety and security of the money deposited with the company.” Full Tilt Poker built a global Ponzi scheme that bilked online players out of at least $390 million, said federal prosecutors The l...

Charred remains of Reeves furniture shop Croydon, South London, following riots on Monday

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...t.”   The association also welcomed the PM’s agreement to its request to extend to the maximum of 42 days the amount of time claims can be made under the scheme. The announcement came as the ABI revised its estimated figure of claims likely to be paid out by the insurance industry to be in excess of £200 million. In addition, the ABI General Director said:   “We will work in partnershi...

Standard Chartered bank illegally "schemed" with Iran to launder as much as $250 billion for nearly a decade

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Standard Chartered bank illegally “schemed” with Iran to launder as much as $250 billion for nearly a decade, a US regulator says. The New York State Department of Financial Services said that the bank hid 60,000 secret transactions for “Iranian financial institutions” that were subject to US economic sanctions. Standard Chartered bank illegally "schemed" with I...

The Arctic Monkeys performed at the Pyramid Stage in front of more than 90,000 fans closing the Glastonbury Festival's first night

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...the festival’s last headliner, Beyonce, two years ago. In keeping with the slow-burning groove of their new single, the band set opened with subdued lighting and darkened video screens, before crashing straight into the heavier, faster Brianstorm, a single from 2007. The Arctic Monkeys performed at the Pyramid Stage in front of more than 90,000 fans closing the Glastonbury Festival’s...

Glastonbury aerial photographs show the sprawling site of the world-famous music festival

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...had the moves like Mick Jagger by taking part in a Jumping Jack Flashmob at Glastonbury. The Jagger Off, arranged by two Rolling Stones fans to celebrate the band’s first appearance at the festival, saw crowds of people mimic Mick Jagger’s trademark dance moves. It was held near the Pyramid Stage, where the band will perform their headline set on Saturday night, under the watchful eye of a giant...

Prince Harry attended this year’s Glastonbury Festival and managed to sneak into the UK’s biggest music event unnoticed to party with friends until the early hours

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...vent unnoticed to party with friends until the early hours He said: “It’s the whole razzmatazz of the occasion – the two of us finally getting together at long last. “I had to prove myself to them. We were a bunch of hippies; it’s hardly a Rolling Stones set up, is it?” The capacity of the Pyramid area was expanded for the first time for the Stones, meaning a festival record of...

Kasabian will headline the Pyramid Stage at this year’s Glastonbury Festival

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...ts announced include MGMT, Brian Ferry, Kelis, Metronomy and De La Soul. Kasabian will headline the Pyramid Stage at this year’s Glastonbury Festival Rudimental, Manic Street Preachers, London Grammar and Ed Sheeran are also set to play across more than 100 stages at the festival in Somerset from June 25 to June 29. Saturday night’s Pyramid Stage headliner is still yet to be announced, alth...

Clashes erupted in central Bangkok on Tuesday with several protesters and police officers injured

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...trators to enter government buildings in a bid to defuse tensions. Also on Tuesday, Thailand’s official anti-corruption commission said it would file charges against Yingluck Shinawatra over the rice subsidy scheme. It began investigating Yingluck Shinawatra in January for possible negligence of duty over the scheme, which saw the government buying farmers’ crops for the past two years...

Authorities in Dubai are launching an initiative of offering gold in return for weight loss in an scheme to encourage healthier living

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Authorities in Dubai are launching an initiative of offering gold in return for weight loss in an scheme to encourage healthier living. Those interested can sign up from Friday for the initiative which lasts over the next 30 days and coincides with Ramadan, a month of fasting. For each kilogram lost, participants will receive a gram of gold, which is currently worth about $45. Those taking part &...

Glastonbury Festival has survived riots, fires, mud swamps in its action-packed 43-year-history

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...t and other arts. From humble hippyfest to music megabrand – Glastonbury has exploded into one of the world’s biggest and best-loved festivals. It has survived riots, fires, mud swamps and the wrath of the local council throughout the years, to become an institution on the British summer calendar. When Michael Eavis, a Somerset farmer, organized the first festival in 1970, he was inspi...

The Rolling Stones are to play as one of the three headline acts for the Glastonbury Festival 2013, taking place on the final weekend of June

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The Rolling Stones are to play as one of the three headline acts for the Glastonbury Festival 2013, taking place on the final weekend of June (28-30). It will be the first time the Rolling Stones have played at the festival at Worthy Farm, Somerset, which will draw about 135,000 people. The other headline acts at the festival are Mumford and Sons and the Arctic Monkeys. The Rolling Stones will be...

Michael Moore is the booming voice of the Occupy protests, encouraging activists to continue their battle against the wealthy one per cent of Americans, but he has been uncharacteristically quiet about one thing: his own wealth.

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...ker, I do extremely well. That, too, drives conservatives bonkers. <<You’re rich because of capitalism!>>, they scream at me. “Um, no. Didn’t you take Econ 101? Capitalism is a system, a pyramid scheme of sorts, that exploits the vast majority so that the few at the top can enrich themselves more. I make my money the old school, honest way by making things.” Tal...

The 105-storey pyramid-shaped Ryugyong hotel has been under construction in Pyongyang for 25 years

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Pictures have emerged showing the inside of the 105-storey pyramid-shaped Ryugyong hotel that has been under construction in Pyongyang for 25 years. North Korea began building the Ryugyong hotel in 1987, but construction was halted for 16 years when funds ran out. Although work restarted in 2008, the hotel has become, for many, a symbol of North Korea’s thwarted ambitions. The 105-storey p...

Malta has changed its controversial new passport scheme for non-EU nationals

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...for rich foreigners wishing to get Maltese passports. The new stipulation says “no certificate of naturalization will be issued unless the applicant provides proof that he/she has resided in Malta for a period of at least 12 months immediately preceding the day of issuing of the certificate of naturalization”. Malta has changed its controversial new passport scheme for non-EU national...

A New Mexico inmate, an ex-convict on probation and his nephew are under investigation for plotting to castrate and murder pop singer Justin Bieber

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...ception of being a <<nobody>> in prison, led him to begin plotting the kidnap and murder of [Justin Bieber],” the affidavit said, adding that Dana Martin gave statements to investigators. With Dana Martin serving as the mastermind, the plan called for the uncle and nephew to first kill two other people, in Vermont, the affidavit said. But the entire scheme to kill a total of four...

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...vision, German Chancellor Angela Merkel said. Specific dates have not yet been agreed for the phases of integration. But the EU summit chairman, Herman Van Rompuy, said a deal should be reached next year on a joint resolution scheme for winding up failed banks. Herman Van Rompuy’s far-reaching roadmap was the main topic of the two-day Brussels summit. Speaking after the summit talks, French...