As previously reported, Bradford Richardson, Usana’s Executive VP of Asia Pacific has been doing some serious dumping of his Usana (NYSE: USNA) stock. Now that his stock is gone, it looks like he’s been exercising options and dumping those shares as well. He’s up to $2.4 million… what a nice payday!
Here’s the latest tally:
Oh, and for those who haven’t been following… Barry Minkow and Fraud Discovery Institute produced a damaging report on October 18 about Usana’s illegal activities in China. The report revealed that Usana corporate employees in Hong Kong are helping (and encouraging) Chinese nationals to sign up for Usana and recruit more Chinese nationals. China’s law prohibits this.
It’s my theory that Usana is letting Richardson get all his money out, and then he will be the sacrificial lamb. Dave Wentz and Gil Fuller will blame Richardson for all of the China problems, say they knew nothing of his transgressions in China, “fire” him with a flourish, and vow to continue working ethically. (They still refer to themselves as ethical after numerous revelations about faked credentials and other falsified information given to the public.)