NEW YORK – Herbalife Nutrition Ltd has agreed to settle a U.S. criminal case accusing it of bribing Chinese officials, including government agencies and the media, to boost its business in China.
The multi-tier marketing company, whose products include dietary supplements, entered into a deferred prosecution agreement to resolve a charge it conspired to violate the federal Foreign Corrupt Practices Act, an anti -corruption.
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Herbalife’s deferred prosecution agreement was disclosed by a federal prosecutor and a company attorney during a hearing in federal court in Manhattan on Friday.
It was not immediately clear how much Herbalife would pay as part of the settlement.
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Authorities have investigated Herbalife’s alleged involvement in a ten-year ploy to bribe Chinese officials in order to obtain direct sales licenses, reduce government control and suppress negative coverage from media controlled by the state.
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The prosecutor said Herbalife’s alleged misconduct occurred between 2007 and 2016.
Herbalife shares traded lower to $ 47.80 a share before being halted for pending news.
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