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Sunday, May 26, 2024 | Back issues
Courthouse News Service Courthouse News Service

Avon Fined $135 Million|for Chinese Bribes

WASHINGTON (CN) - Avon will pay $135 million to settle criminal and SEC charges of bribing Chinese officials, the SEC said Wednesday.

In parallel complaints, Uncle Sam charged Avon with paying $8 million in bribes to Chinese officials to give Avon a business license in 2006, and to keep it out of the Chinese news.

Avon agreed to pay the SEC $67.4 million in disgorgement and interest, and to pay the United States $67.6 million to settle the criminal allegations.

Avon did not have to admit it did anything wrong.

It was sued under the Foreign Corrupt Practices Act.

Avon's "direct selling" business license in 2006 was the first one issued by China, the SEC said.

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