Litigation

Lie about your credentials, win CFO of the Year

By Tracy Coenen

Utah Business magazine should be ashamed of itself. Its first ever “CFO of the Year” award went to Gil Fuller, the CFO of Usana Health Sciences (NASDAQ:USNA) who lied about being a CPA. The lies were repeated over and over in SEC filings until Barry Minkow and Fraud Discovery Institute revealed that in fact, Fuller was not a licensed CPA as he had represented.

Details about the award were reported in a Usana press release:

Utah Business stated that CFO honorees work as a partner with a company’s chief executive officer to guide the company through financial storms and sunny days. The publication sought to recognize individuals who have truly risen to the task as financial stewards. Utah Business recognized 24 finalists at the banquet and awarded a top executive from each of eight categories with a CFO of the Year award.

Apparently the criteria used during judging did not include ethics, integrity, or honesty.

Full post as published by The FRAUDfiles Blog on June 19, 2008 (boomark / email).