Sequence Inc. Fraud Files Blog

A story in the Wall Street Journal on Saturday reported on the Denis Waitley credential problem, as well as another Usana executive with credential problems. After trading closed on Friday, Usana announced that director Waitley was stepping down after an “error” with his credentials. The fact is that Waitley did not have the Masters degree that was listed in SEC filings and Usana promotional materials. It also appears that his Ph.D. is from a diploma mill and not an accredited university, but the company did not admit or deny that allegation.

Additionally, according to WSJ:

In several filings with the SEC, including a proxy statement filed two weeks ago, Usana has said that its executive vice president of research and development, Timothy Wood, earned a master’s degree in environmental sciences and a Ph.D. in biology, both from Yale University

Yale says Mr. Wood’s degrees were both in forestry, not biology. He earned a master’s in forest science from Yale’s professional school of forestry in 1972 and, in 1980, a Ph.D. in forestry and environmental studies from Yale’s graduate school, according to the university. Mr. Wood didn’t return repeated telephone calls for comment.

Wow. What will turn up next?