Avon To Pay $135 Million To Resolve Corruption Cases

MarketWatch Pulse

Avon Products said Wednesday it agreed to pay $135 million to resolve corruption cases brought against it by the Department of Justice and the Securities and Exchange Commission. Avon's Chinese subsidiary pleaded guilty to conspiring to violate the books and records provision of the Foreign Corrupt Practices Act and was sentenced to pay a $68 million fine to the DOJ. The remaining $67 million disgorgement and prejudgment interest will be paid to the SEC.

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