This morning Herbalife (NYSE: HLF) was charged criminally for paying bribes to Chinese officials. The action appears to related to criminal liability under FCPA (U.S. Foreign Corrupt Practices Act). I have not yet seen the indictment to learn more about the details.
There is apparently a deferred prosecution agreement, and this appears to be related to a settlement agreement that HLF entered into in May. Under that agreement, Herbalife agreed to pay $123 million.
It’s fun to see pyramid schemes being held to account, even if it doesn’t happen often enough.
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