Long Island, NY -- (SBWire) -- 10/01/2013 --On September 17, leading business news blog DigitalOlympus.com commented on recent news story by Ruth Bender and Laurie Burkitt published on The Wall Street Journal regarding French conglomerate DANONE’s investigation into alleged bribery violations at a second baby-food unit in China. Supposedly the French food group provided improper benefits to key medical staff members in several hospitals in Beijing.
According to the Wall Street Journal news article, “The 21st Century Business Herald, a private Chinese publication, alleged that sales staff promoted Nutricia products by providing "improper" benefits, such as cash rebates, tourism and entertainment vouchers and other gifts to more than a 100 doctors at 14 Beijing hospitals.”
The news piece further stated that China Central Television (CCTV) quoted an anonymous source from DUMEX –a baby food brand owned by DANONE–, saying that the company had paid medical staff at a hospital in Tianjin to drum up sales. The Wall Street Journal news article also revealed that the alleged bribes included around 300,000 Yuan (approximately USD 49,000).
“Since DANONE has resolved to verify the allegations broadcasted by CCTV, it would be wise for the firm to seek the services of companies that will conduct the proper corporate investigations,” says a DigitalOlympus.com spokesperson. “This will allow the French firm to know where they stand in regards to these allegations, and what would be the best possible outcome for this situation.”
In a statement following the report, DigitalOlympus.com lead researcher Josh Cole suggested that any company conducting business abroad should seek advice from due diligence experts in order to avoid similar allegations. DigitalOlympus.com always encourages the adoption of due diligence investigations, fraud investigations and similar practices that can help companies improve their organization regarding internal controls and FCPA compliance programs.
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Digitalolympus.com is a news blog dedicated to educating its readers on the latest technology advances. They are committed to gathering information on up and coming technologies that will enhance the lives of their readership. Digitalolympus.com is always at the forefront of technology news and events guiding its readers to accurately determine the best course of action for themselves and their businesses.
DigitalOlympus.com Comments on DANONE's Plan to Investigate Bribery Allegations
After French food group DANONE’s second unit started an internal investigation into alleged bribery violations in China, business news blog DigitalOlympus.com highlighted the situation as an interesting case study for FCPA analysts and researchers.