NEW YORK — The billionaire investor Warren Buffett has announced he will invest in the company that makes the popular high-end jewelry chain, Franklin Templetons.

Buffett announced Friday that he is buying a 20 percent stake in Franklin for $300 million and the company, which has been at the center of a scandal over bribery allegations.

Buffets family has owned Franklin for at least 40 years.

The family said it would continue to operate the company and operate it in a way that fosters a healthy culture, with a focus on transparency and respect for employees.

Franklin Templeton, founded in 1897, was a jewelry company based in Los Angeles, California.

Franklin has had a history of alleged corruption and wrongdoing, including allegations that employees were paid bribes.