Important note: Information in this article was accurate in 2006. The state of the art may have changed since the publication date.
Miami Herald - July 28, 2006
In ads, the Seasilver promoters claimed the product, a liquid dietary supplement containing aloe vera, phyto-silver sea vegetables, herbs, cranberry concentrate and other ingredients, was clinically proven to treat or cure 650 diseases, including cancer and AIDS. It also would create rapid, substantial and permanent weight loss without dieting, they claimed. The FTC alleged that the ads were false and unsubstantiated.
In March 2004, the defendants agreed to settle the FTC's charges. The settlement, filed in federal court, barred the defendants from making misleading claims in the future. It also required the defendants to pay $3 million and included a suspended judgment of $120 million, which would become due if the defendants misrepresented their financial status or didn't make payments as they agreed.
To date, Seasilver and Americaloe and their owners, Bela and Jason Berkes, have paid less than $1 million. They're now liable for the full $119,237,000, plus interest.
The FTC has secured liens on their assets, including a nursery, an aloe farm and equipment. The two largest distributors of Seasilver have made separate, court-ordered payments of $1 million and $500,000.
A hot line for this case, 866-408-2536, contains more information.
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