GSK made illegal transfers in China, say police

British pharmaceutical giant GlaxoSmithKline (GSK) made “illegal” transfers, say Chinese police as they released details of an investigation into bribery allegations.

Four senior Chinese executives from GSK have been held, said Gao Feng, head of the economic crimes investigation unit.

Gao Feng said GSK had transferred as much as 3 billion yuan ($489 million) to travel agencies and consultancies since 2007.

Chinese police said GSK had transferred as much as $489 million to travel agencies and consultancies since 2007

GSK has said it has not found any evidence of corruption.

However, the company said in a statement last week that it was co-operating with authorities.

On July 11, the Ministry of Public Security said GSK executives had confessed to bribery and tax violations. Authorities said they suspect GSK of offering bribes to officials and doctors to try to boost sales in China.

On Monday, Gao Feng did not go into how much of the money was spent allegedly bribing officials and doctors.

He did, however, say that the probe had found that GSK was mainly responsible for the bribes which included cases of s**ual bribery.

“We have sufficient reason to suspect that these transfers were conducted illegally,” Gao Feng said.

“You could say the travel agencies and GSK were criminal partners.”

495oig2-BzU
Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Recent Posts

Spain: At Least 158 Killed In The Country’s Worst Flooding Disaster

At least 158 people have died in Spain's worst flooding disaster in generations. On October…

2 days ago

Russia Fines Google $20,000,000,000,000,000,000,000,000,000,000,000, Surpassing Global GDP

Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…

2 days ago

Financing Your Home Remodel: 7 Tips for Success

Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…

2 weeks ago

Donald Trump Serves Up McDonald’s Fries While Kamala Harris Celebrates 60th Birthday with Church Choir

The US presidential candidates continued to campaign across key swing states on October 20. Footage…

2 weeks ago

America PAC: Elon Musk Promises to Award $1M Each Day to Swing States Voters

Elon Musk has said he will give away $1 million a day to a registered…

2 weeks ago

Canada Expels 6 Indian Diplomats Amid Khalistan Row

India and Canada have decided to expel their top envoys along with other diplomats as…

3 weeks ago