U.S. charges two former Herbalife executives in China in bribery scheme: person familiar

(Reuters) – Two former executives of a Chinese unit of Herbalife Nutrition Ltd (N:) were criminally charged on Thursday over an alleged scheme to pay bribes and circumvent the company’s internal accounting controls, a person familiar with the matter said on Thursday.

Yanliang Li, also known as Jerry Li, and Hongwei Yang, also known as Mary Yang, were each charged with conspiring to violate the Foreign Corrupt Practices Act, an anti-bribery law. Li was also charged with perjury and destroying records. Both are at large.

The charges were announced by the U.S. Department of Justice. The person familiar with the matter confirmed that Li and Yang worked for Herbalife’s Chinese unit. Herbalife did not immediately respond to a request for comment.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.