Avon Alerts SEC About Improper Expenses

2008-10-21 | 07:05

Chinese operations alleged improprieties regarding travel and entertainment.

Avon Products Inc. on Monday said it has informed federal authorities about an internal investigation into its China operations stemming from an allegation of improprieties related to travel and entertainment expenses.

The cosmetics company said in a statement it has voluntarily told the Securities and Exchange Commission and the U.S. Department of Justice about the investigation, which began in June.

"The internal investigation is in its early stage and no conclusion can be drawn at this time as to its outcome," Avon said in the statement.