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Thu Nov 15, 2012, 01:58 PM

Wal-Mart Expands Foreign Bribery Investigation

Source: NY Times

By STEPHANIE CLIFFORD

Wal-Mart disclosed on Thursday that it has expanded an internal investigation into bribery accusations in Mexico to Brazil, China and India.

The company acknowledged the expanded inquiry in a Securities and Exchange Commission filing that accompanied its third-quarter financial results, which showed lower sales than analysts had expected.

Wal-Mart had previously reported that the audit committee of its board was examining possible violations of the Foreign Corrupt Practices Act in Mexico.

“Inquiries or investigations regarding allegations of potential F.C.P.A. violations have been commenced in a number of foreign markets where we operate, including but not limited to Brazil, China and India,” the company said in its regulatory filing.

FULL story at link.



Read more: http://www.nytimes.com/2012/11/16/business/wal-mart-expands-foreign-bribery-investigation.html?partner=EXCITE&ei=5043&_r=0




Shi Tou/Reuters

A Walmart store in Chongqing, China.

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Reply Wal-Mart Expands Foreign Bribery Investigation (Original post)
Omaha Steve Nov 2012 OP
DCKit Nov 2012 #1

Response to Omaha Steve (Original post)

Thu Nov 15, 2012, 02:13 PM

1. Well, at least in China, they're buying goods made in China. nt

 

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