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Former Herbalife China Executives Criminally Charged By DOJ, SEC Also Charges Former Executive

herbalife

In 2014, Avon resolved a Foreign Corrupt Practices Act enforcement based in large part on obtaining a direct selling permit in China. (See here for the prior post).

In 2016, Nu Skin Enterprises resolved an FCPA enforcement action based in large part on obtaining a direct selling permit in China. (See here for the prior post).

In 2017, Herbalife disclosed that it was under FCPA scrutiny concerning its conduct in China. With the company’s scrutiny still pending, yesterday the DOJ announced that Yanliang Li (a citizen of China and former Managing Director of a Chinese division of Herbalife) and Hongwei Yang (a citizen of China and former head the External Affairs Department of a Chinese division of Herbalife) were criminally charged “for their roles in a scheme to violate the anti-bribery and the internal controls provisions of the FCPA.” Not surprisingly, the alleged conduct focused on obtaining a direct selling permit.

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Scrutiny Alerts And Updates

scrutiny alert

This post highlights Foreign Corrupt Practices act and related scrutiny alerts and updates regarding the following companies: International Flavors and Fragrances, Herbalife, Veolia, Stericycle, and Bombardier.

International Flavors and Fragrances

In October 2018, New York based International Flavors and Fragrances (IFF) Inc. acquired Israel-based Frutarom Industries Ltd. (a flavors, savory solutions and natural ingredients company).

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Scrutiny Alerts And Updates

scrutiny alert

This post provides updates on long-standing FCPA scrutiny of the following companies: Fresenius, Noble Corp., Microsoft, Herbalife, Gartner, and TechnipFMC as well as an update from across the pond in the United Kingdom concerning GlaxoSmithKline and  individuals associated with Rolls Royce.

Fresenius

German healthcare firm Fresenius Medical Care AG (a company with shares traded on the NYSE) has been under FCPA scrutiny since 2012 (no that is not a typo). The company recently disclosed:

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Friday Roundup

Roundup

Good lord, scrutiny alert and updates, across the pond, and for the reading stack. It’s all here in the Friday roundup.

Good Lord

Here is how Rep. Jackie Speier (an individual with a law degree) described the Foreign Corrupt Practices Act on a recent CNN program – “It is a requirement that anyone doing business with a foreign entity make sure that none of the money that comes into a project has been laundered.”

Good lord, get it right or stop talking about the FCPA.

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Roundup of FCPA Developments

Roundup

Checking In on Wal-Mart

It’s always a best practice not to believe everything in a newspaper which cites to unnamed sources, but in any event the Wall Street Journal reports:

“Wal-Mart Stores Inc. tried and failed to settle a foreign-bribery probe that has stretched for five years and cost the company more than $820 million, according to people familiar with the federal investigation.

In the final weeks of the Obama administration, the world’s largest retailer and U.S. officials weren’t able to agree on a deal before Donald Trump’s inauguration, people familiar with the matter said. “Wal-Mart and the government are very far apart in terms of a settlement,’’ one of the people said Thursday.”

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