Citron Research: Usana Health Sciences Operating Illegally in China

Allegations of cheating in China are nothing new for Usana Health Sciences (NYSE: USNA).  In 2007, the Fraud Discovery Institute accused Usana of doing business illegally in China.  The country has very strict laws against multi-level marketing (MLM). It is strictly forbidden. Yet for years Usana has been getting around …

USANA Multi-Level Marketing Activity in China and Hong Kong

Guest Post by USANA Watch Dog USANA has found a way to possibly expand its multilevel marketing opportunity into every country in the world, including unauthorized regions such as mainland China. An internal USANA document shows virtually no limit to the number of distributors who can sign up using the …

China MediaExpress Holdings: Critics and Short Sellers Were Right!

In February, I wrote about China MediaExpress Holdings Inc. (NASDAQ:CCME) and several fraud allegations that had surfaced via researchers at Muddy Waters and Citron Research. After looking at the allegations and the support (or lack thereof), my conclusion was that there was something wrong at the company. I wrote that …

More Evidence of Fraud at China MediaExpress Holdings

UPDATE: In March 2011, CFO Jacky Lam of China Media Express and the auditors (Deloitte) resigned. Deloitte said they could no longer rely on the representations of management, and they suggested an investigation was in order. Ping Luo, the analyst from Global Hunter who gave CCME rave reviews resigned. Maurice …