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US citizen ensnarled in China’s GSK probe on privacy charges
Quartz ^ | 07/26/2013 | Heather Timmons

Posted on 07/26/2013 7:28:51 PM PDT by TexGrill

US citizen Yingzeng Yu, recently detained by Chinese authorities along with her husband and business partner Peter Humphrey, is being held for a possible violation of China’s laws on possession of personal information, according to a person briefed on her situation.

The couple are co-founders of Shanghai-based ChinaWhys, a risk management firm, and veteran fraud investigators. Their detention is widely believed to be linked to a far-reaching bribery probe into China’s pharmaceutical industry, centered on British drug maker GlaxoSmithKline.

It is not yet clear who Yu, a veteran corporate adviser, and Humphrey, a former journalist with Reuters, were investigating or what they may have found, but their detention raises serious questions about how China is pursuing its investigation of bribery in the pharmaceutical sector, how its privacy laws are being applied, and how businesses hoping to protect themselves from fraud should proceed in the future.

Chinese authorities have accused GSK of illicitly paying up to 3 billion yuan ($489 million) to doctors, hospitals and government officials to win more business and raise drug prices. GSK acknowledges that some of its employees have broken the law in China, but would not confirm whether GSK was a client of ChinaWhys.

(Excerpt) Read more at qz.com ...


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; News/Current Events
KEYWORDS: chinaeconomy
Global business tip
1 posted on 07/26/2013 7:28:51 PM PDT by TexGrill
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