Myron W. Wentz
Myron W. Wentz is the founder, chairman and former CEO of USANA Health Sciences, a Utah-based multi-level marketing company that produces various nutritional products and supplements.[1]
Education
Wentz holds a BSc degree in biology from North Central College in Naperville, Illinois, an MSc degree in microbiology from the University of North Dakota, and a PhD degree in microbiology and immunology from the University of Utah.[1]
Professional history
In 1974, Wentz launched Gull Laboratories as a one-man operation and developed a test for diagnosing Epstein-Barr virus infection. The company was later sold to Fresenius, a German medical products company, in 1994, although Dr. Wentz continued as Chairman until 1998.[2] Wentz sold his controlling interests in Gull Laboratories in 1992 and founded USANA Health Sciences in the same year.
Wentz also founded the Sanoviv Medical Institute in 1998, an alternative and holistic medicine center located near Rosarito, Mexico. Wentz served as President of Sanoviv from 1999-2010.[3] The current president is Seth Miller, USANA’s former Director of International Business Development.[4][5]
Wentz and his family are the sole owners of Gull Holdings, Ltd., an Isle of Man company,[6] which in turn, is controlled by an entity registered in Liechtenstein, both well known tax haven countries.[7] Through Gull Holdings, Wentz owns 51% of USANA.[8]
Shareholder lawsuit
On April 4, 2007, Wentz was named as a defendant in a class-action lawsuit brought against USANA by company shareholders. The suit alleged that USANA presented materially false and misleading information about the company’s financial situation and business practices. Included in the allegations were that USANA's business model was unsustainable and amounted to a pyramid scheme. The suit cited several allegations from a report released by Barry Minkow and the Fraud Discovery Institute.[9]
Citizenship
Wentz has been criticized for having renounced his American citizenship in the mid-nineties, and for now claiming citizenship in Saint Kitts and Nevis, reportedly due to tax purposes as the country is known for being a tax haven. Former USANA CFO, Gilbert Fuller, responded to this criticism by stating that Wentz's decision to renounce his US citizenship had nothing to do with the company.[10] Wentz and his companion, Prudence Conley, now live in Rosarito, Mexico.
Awards
In 2007, Dr. Wentz was awarded the Albert Einstein Award for Outstanding Achievement in the Life Sciences by Global Capital Associates, an obscure American investment firm.[11] This award should not be confused with many others named after the famous physicist, mainly the more prestigious and well-known Albert Einstein World Award of Science given by the World Cultural Council and Albert Einstein Award in theoretical physics.
Wentz donated $10 million to his alma mater, North Central College,[12] which helped to fund construction of the Wentz Concert Hall, a $30 million performing arts facility named after Wentz. In June 2011, the College awarded Wentz an honorary doctor of science degree for lifetime achievement in the sciences.[13]
Bibliography
Books
- Wentz M. A mouth full of poison. Rosarito Beach, Baja California:Medicis, S.C.; 2004.
- Wentz M. Invisible miracles. Rosarito Beach, Baja California:Medicis, S.C.; 2002.
- Wentz M. and Wentz, D. The Healthy Home; 2010
Scientific papers
- Preobrazhensky S, Malugin A, Wentz M. "Flow cytometric assay for evaluation of the effects of cell density on cytotoxicity and induction of apoptosis". Cytometry 2001;43(3):199-203.
- Mazumder P, Chuang HY, Wentz MW, Wiedbrauk DL. "Latex agglutination test for detection of antibodies to Toxoplasma gondii". J Clin Microbiol 1988;26(11):2444-46.
- McNeil C, Ladle JN, Helmick WM, Trentelman E, Wentz MW. "An antiserum to ovarian mucinous cyst fluid with colon cancer specificity". Cancer Research 1969;29(8):1535-40.
- Wentz MW, Scott RA, Vennes JW. "Clostridium botulinum type F: Seasonal inhibition by Bacillus lichenoformis". Science 1967;155(758): 89-90.
References
- 1 2 "Meet the Founder | USANA". www.usana.com. Retrieved 2015-11-24.
- ↑ "form8k.htm". www.sec.gov. Retrieved 2015-11-24.
- ↑ "Dr. Myron Wentz | Sanoviv Founder". www.sanoviv.com. Retrieved 2015-11-24.
- ↑ "Sanoviv Medical Institute | Seth Miller, President". www.sanoviv.com. Retrieved 2015-11-24.
- ↑ "Seth T. Miller".
- ↑ "EDGAR Search Results". www.sec.gov. Retrieved 2015-11-24.
- ↑ Winstein, Keith J. "Usana Sales Plan Draws Fire From Felon Turned Gumshoe". Wall Street Journal. ISSN 0099-9660. Retrieved 2015-11-24.
- ↑ "Multilevel Marketing Billionaire: Usana Stock Surge Makes Founder Myron Wentz A Billionaire". Forbes. Retrieved 2015-11-24.
- ↑ Linda Fantin (2007-03-28). "Supplements suit says USANA duped investors". Salt Lake Tribune. See also plaintiff press releases from Milberg Weiss, Brower Piven, and Brodsky & Smith, LLC, March 29, 2007.
- ↑ Keith J. Winstein (2007-03-15). "USANA Sales Plan Draws Fire from Felon Turned Gumshoe". Wall Street Journal.
- ↑ "USANA Founder Dr. Myron Wentz Receives Albert Einstein Award" (PDF). USANA Health Sciences. USANA. Retrieved 24 Nov 2015.
- ↑ Kimberly, James (May 24, 2006). "North Central and its $10 million benefactor". Chicago Tribune. Retrieved 2012-08-30.
- ↑ "Dr. Myron Wentz Awarded Honorary Doctor of Science Degree". Reuters. June 13, 2011.