On Friday, July 31, 2009, the U.S. Securities and Exchange Commission announced that it had filed a settled enforcement against Nature’s Sunshine Products Inc. (“NSP”) and two individuals, Douglas Faggioli and Craig D. Huff.
According to the SEC, the charges relate to cash payments made in 2000 and 2001 by the Brazilian subsidiary of NSP, a manufacturer of nutritional and personal care products, to import unregistered products into Brazil and the subsequent falsification of its books and records to conceal the payments.
Reprinted with permission from Portfolio Media, Inc. (http://www.law360.com)
