WASHINGTON, April 22 Hedge fund manager William
Ackman secretly promised a former Herbalife
executive-turned-whistleblower as much as $3.6 million in case
he lost the job he took after leaving Herbalife, ABC News
reported on Tuesday on its website.
Ackman, the manager of Pershing Square Capital Management
who has heavily shorted Herbalife's stock in the hopes that
share prices would fall, told ABC News that he had already paid
Giovanni Bohorquez, the former executive, $80,000 because "it
was the right thing to do."
Bohorquez worked at Herbalife, a multi-level marketing
company, but left in 2011 and began work at a chain of
laundromats. He lost that job because of the stress of being a
whistleblower, ABC said.
The network said that Ackman gave ABC a copy of an agreement
with Bohorquez under which he agreed to pay the former Herbalife
executive up to $250,000 a year for 10 years in case he lost his
job with the laundromat company because of being a
(Reporting by Mark Hosenball and Diane Bartz, editing by Ros