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Bill Ackman: People Working For Political Consultant 'Have Been Interviewed By The FBI'

Bill Ackman: People Working For Political Consultant 'Have Been Interviewed By The FBI'
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Pershing's Bill Ackman: 'Herbalife's Business Will Ultimately Fail'

On Thursday, The Wall Street Journal published a story that reported the FBI and Department of Justice are interviewing people connected with Bill Ackman and his firm, Pershing Square Capital, for a potential manipulation in Herbalife Ltd. (NYSE: HLF) stock.

Ackman was on CNBC this Friday to reveal his side of the story.

The Details

"We have hired a political consultant from a firm called Global Strategy Group. They, in turn, hired sub-contractors around the country and they assisted us...on behalf of our very firmly-held view that Herbalife is a pyramid scheme," Ackman said.

"I think a handful of the people that they have hired or that work for them have been interviewed by the FBI."

Related Link: Bill Ackman Might Be Under Investigation...And It's Boosting Herbalife Stock

'I Was Aware'

"I was aware that representatives of Global Strategy Group had received subpoenas from the Department of Justice...but I don't know more than what I read in the papers."

Pershing Square Isn't Under Investigation

On if he or Pershing Square are under any kind of investigation, Ackman replied, "Certainly not by the FBI or the DoJ."

"I haven't got any subpoenas asking me to testify about market manipulation or anything else that's concerning our conduct with respect to Herbalife," he added.

Ackman also revealed that he has spent "something less than $50 million" in his fight against Herbalife, primarily on legal fees and investigative costs.

Posted-In: CNBC Hedge Funds Media General Best of Benzinga


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