Wal-Mart seen facing sizeable fines in U.S. bribery probe

[Judi Lynn]

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

[sakabatou]

1. I bet there's even more darker things in their closet.

[surrealAmerican]

2. Since they were willing to spend hundreds of thousands ...

... of dollars on bribes multiple times, any fines assessed will likely be seen as just the cost of doing business by WalMart. It won't deter them from doing the same thing again.

[Brigid]

3. The fine money should be used . . .

To help Wal-Mart employees unionize.

[ReRe]

4. Sock. It. To. Them.

Hell...run them off the earth!

[cstanleytech]

5. Unless the fines are equal to at least 1 to 5 years of profits they will just write it off as

the cost of doing business.

[byeya]

6. Corporations don't bribe officials, officers of corporations bribe officials. Where are the

indictments of these alleged corrupt WalMart corporate officers? Fines too, but get the guilty people to the bar of justice.

[JeffHead]

7. How much is the Walton family worth?

About 70 or 80 billion? I think that should about cover it.

[cbrer]

8. As much as I despise Walmart

Bribes are the way business is done around the world. From Karzai's brother turning up with pallets of cash, to tinpot dictators in Salvador and Iraq.

I'm agreeing with you morally, but if you're going to tilt at that windmill, be prepared...

[byeya]

11. The practice is against US law - Are you advocating not enforcing this law?

[cbrer]

12. Yeah yeah...I know

Pot is against the law too. And bribing politicians is illegal in the US too. But we accept it every year. Along with the resultant revolving door between Congress and the MIC.

I'm advocating reality. The way people twist reality in order to make their activities "legal" is legendary. Does this serve us well?

[byeya]

14. People are locked up for years for possessing pot. That's reality. If we jail bribers, that will

be reality also.

[smknz]

9. forget the fines

Fines? forget the fines, lock up whoever issued the bribes and give them a lighter sentence if they testify to who instructed them until some Walton family members spend time in the same prisons they probably have shares in.

[BadGimp]

13. Under the Foreign Corrupt Practices act they can go to jail

[Judi Lynn]

10. Walmart Mexico paid bribes to open stores: Report

Walmart Mexico paid bribes to open stores: Report
New York, Dec 19, 2012, (PTI):

Global retail giant Walmart, which is facing uproar in India over its lobbying efforts and allegations of bribery, has come under increased scrutiny after a US media report said that its Mexico affiliate bribed local officials to open stores in desired locations.

According to a New York Times investigation, Walmart de Mexico was "not the reluctant victim of a corrupt culture that insisted on bribes as the cost of doing business.

"Nor did it pay bribes merely to speed up routine approvals. Rather, Walmart de Mexico was an aggressive and creative corrupter, offering large payoffs to get what the law otherwise prohibited," the publication said.

Walmart's Mexico affiliate used bribes to subvert democratic governance — public votes, open debates, transparent procedures as well as to circumvent regulatory safeguards that protect Mexican citizens from unsafe construction. It also used bribes to outflank rivals, the report said.

More:
http://www.deccanherald.com/content/299498/walmart-mexico-paid-bribes-open.html

[Janspece]

15. Let Their Employees Split The Money