Evidence brought in Avon bribery case
- By Yan Pei
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E-mail China.org.cn, February 15, 2012
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Avon released its fourth quarter financial results on Tuesday. [File photo] |
![Avon released its fourth quarter financial results on Tuesday. [File photo]](http://images.china.cn/attachement/jpg/site1007/20120215/001aa0ba5c8510a5b4b426.jpg "Avon released its fourth quarter financial results on Tuesday. [File photo]")
U.S. federal prosecutors have presented evidence of Avon Products' bribery charges to a grand jury, foreign media reported Tuesday, citing people familiar with the issue.
Prosecutors have been examining a draft internal report by Avon, which may indicate the company violated U.S. anti-bribery laws.
Avon, the world's largest door-to-door cosmetic seller, released its fourth quarter fiscal results on Tuesday. The company saw a US$40,000 loss, with its sales revenues dropping 4 percent to US$3.04 billion, lower than the US$3.1 billion analysts previously predicted. Net profits declined by 15 percent to US$514 million.
Avon launched an internal inquiry in October 2008 into whether it had violated U.S. anti-corruption laws. U.S. federal prosecutors found that Avon had been bribing Chinese officials since 2005.
China's business press carried the story above on Wednesday.
Contact the writer of this story at: yanp@china.org.cn.
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