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Tue Dec 18, 2012, 04:50 PM

Wal-Mart seen facing sizeable fines in U.S. bribery probe [View all]

Source: Reuters

Wal-Mart seen facing sizeable fines in U.S. bribery probe
Tue, 18 Dec 2012 20:53 GMT
Source: reuters // Reuters
By Aruna Viswanatha

WASHINGTON, Dec 18 (Reuters) - Wal-Mart Stores may be facing sizeable fines related to allegations of widespread bribery at its Mexican affiliate, after a second report from the New York Times provided more details about the scope of the potential misconduct.

Experts said the latest report, published online late on Monday, is significant because it appears to show that the alleged bribes were a substantial part of its business methods, and more than routine payments to speed up approvals, which are allowed under U.S. law.

The newspaper said the world's largest retailer opened some 19 stores by using hundreds of thousands of dollars in bribes to get what local laws otherwise prohibited.

In April the newspaper reported that Wal-Mart had stifled an internal probe into bribery at its Mexican affiliate Walmex , but gave the impression that many of the bribes paid may have been used to facilitate approval processes already in motion.


Read more: http://www.trust.org/trustlaw/news/detail.dot?id=2880e942-832e-4ed8-bb73-2743fef25bc6

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