Skip to main content

Black Listed News
Trending Articles:
Trending Articles:

Walmart to pay $282 million to settle federal bribery charges

Published: June 22, 2019
Share | Print This


Source: cbsnews.com

Walmart agreed Thursday to pay a total of $282 million to settle a U.S. bribery investigation in connection with the retailer's operations in Brazil, China and other countries. 

Of that amount, the company will pay a $138 million to resolve Justice Department allegations that its Brazilian subsidiary secretly funneled more than $500,000 to an intermediary in order to secure government permits. Such payments are a violation of the Foreign Corrupt Practices Act (FCPA), a 1977 law that bars American companies operating abroad from using bribery and other illegal methods.

Walmart also will pay more than $144 million to settle similar charges by the Securities and Exchange Commission. The company allowed subsidiaries in the four countries to "employ third-party intermediaries who made payments to foreign government officials without reasonable assurances that they complied with the FCPA," the SEC said in a statement.

Court documents filed in Alexandria, Virginia, say the corruption occurred in 2009 and 2010, and that the subsidiary's corrupt acts caused the parent company to submit inaccurate financial records.

Read More...

Share This Article...



Image result for patreon

Emigrate While You Still Can!

Loading...


Image result for patreon


PLEASE DISABLE AD BLOCKER TO VIEW DISQUS COMMENTS

Ad Blocking software disables some of the functionality of our website, including our comments section for some browsers.





Login with patreon to gain access to perks!

SIGN UP TO GET BLACKLISTED NEWS DELIVERED RIGHT TO YOUR INBOX

Enter your email address:





More Blacklisted News...

Blacklisted Radio
Blacklisted Nation
On Patreon
On Gab
On Twitter
On Reddit
On Facebook
Blacklisted Radio:
Republic Broadcasting
Podcasts on Youtube
Podcasts on Demand
On Iheart Radio
On Spreaker
On Stitcher
On iTunes
On Tunein

Our IP Address:
198.245.55.242

Sponsors:
Garden office

good
longboard
brands


Advertise Here...






BlackListed News 2006-2019
Privacy Policy