Beauty goods company Avon has been fined $135 million by the SEC for bribing Chinese officials with luxury goods -- everything from Gucci bags to Tiffany pens.
The SEC alleged that Avon's subsidiary in China doled out $8 million in bribes -- cash, gifts, entertainment, and travel -- to Chinese officials in charge of new regulations to sell directly to consumers. The watchdog also said the company falsely recorded the bribes as employee business expenses or vendor payments.
Avon bribed Chinese officials with Gucci bags - Dec. 18, 2014
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