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Four Glaxo China Executives Held in Criminal Probe

China detained four senior GlaxoSmithKline Plc executives on suspicion of economic crimes involving 3 billion yuan ($489 million) of spurious travel and meeting expenses, and receiving sexual favors.

The alleged offenses date to 2007 and involved 700 travel agencies, Gao Feng, head of the economic crimes investigations unit of the Public Security Ministry, said at a briefing in Beijing today. The executives are Chinese nationals, the Xinhua News Agency said. Glaxo is “deeply concerned and disappointed” and will stop using agencies identified in the probe, the company said in a statement.