U.S. prosecutors criminally charged two former executives of Herbalife Nutrition Ltd’s Chinese unit with running a decade-long scheme to bribe Chinese government officials to win business and evade regulatory scrutiny, a person familiar with the matter said.
Herbalife was not criminally charged, and the multi-level marketing company was not identified by name in Thursday’s indictment against Yanliang Li, also known as Jerry Li, and Hongwei Yang, also known as Mary Yang. The person familiar said Herbalife was their employer.
Li, the former head of Herbalife’s Chinese unit, and Yang, who led its external affairs department and reported to Li, were charged by the U.S. Department of Justice with conspiring to violate the Foreign Corrupt Practices Act by orchestrating the bribes and circumventing Herbalife’s accounting controls.
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