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Avon reaches outline of bribery probe deal, would pay $135 mln
May 1, 2014 / 11:32 AM / 3 years ago

Avon reaches outline of bribery probe deal, would pay $135 mln

NEW YORK, May 1 (Reuters) - Avon Products Inc said on Thursday that it had reached a preliminary deal with the U.S. Department of Justice and the U.S. Securities and Exchange Commission to resolve a years-long probe into the beauty products company’s overseas business development practices.

Avon would pay aggregate fines, disgorgement and prejudgment interest of $135 million, with $68 million payable to the DOJ and $67 million payable to the SEC.

Reporting by Phil Wahba in New York; Editing by Lisa Von Ahn

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