Litigation

Bradford Richardson, president of Shaklee International

By Tracy Coenen

As I predicted in this November 14 post, Bradford Richardson has gone to work for Shaklee. He left Usana Health Sciences (NASDAQ:USNA) to become Shaklee’s new president of international operations. I have a theory that once the Cheating in China information was revealed by Barry Minkow, that Usana needed someone to take the fall for the alleged illegal activities.

What better way to do that than blame the person in charge of the Asia Pacific operations. Usana was kind enough to keep Brad around long enough so he could collect his $3.1 million on the stock options he had.

I realize that Usana hasn’t gotten into any official trouble here or in China for breaking the laws over there. And frankly, I think Usana is just as surprised as I am that no one has brought the hammer down. But I think that they wanted to hedge their bets and move Richardson out as soon as they could. That way when questions were raised, they could immediately point to this “corrective action.”

Full post as published by The FRAUDfiles Blog on July 08, 2008 (boomark / email).