NEW YORK (AP) — Herbalife, a Los Angeles-based health and nutrition company, bribed Chinese government officials for a decade to grow its overseas business and falsified accounting records to cover up the payments, U.S. prosecutors said Friday in announcing corruption charges against the publicly traded company.
Herbalife agreed to pay combined penalties of more than $123 million to resolve the charges, federal prosecutors said.
The company admitted to the conspiracy as part of a deferred prosecution agreement it reached with the U.S. Justice Department and the U.S. Attorney’s Office in Manhattan.
The charges were brought under the Foreign Corrupt Practices Act, which prohibits bribery of foreign government officials or company executives to secure or retain business.
Herbalife did not immediately respond to a message seeking comment.