Beauty giant Avon Products (AVP.NYSE) warned on Thursday it could end up paying US$132 million to settle a bribery probe launched by the US into the company’s practices in China and other countries, The Wall Street Journal reported. That fine would substantially exceed an estimate made eight months ago. The cosmetics firm had previously offered to pay US$12 million to settle the case last June, a sum that was rejected by federal regulators as too low. The US government’s investigation began in 2011, following an internal probe by Avon that started in 2008 into allegations of improper payments in China.
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