Wal-Mart bribery probe includes 5 countries
Source: Associated Press
Wal-Mart bribery probe includes 5 countries
AP foreign, Wednesday June 13 2012
ANNE D'INNOCENZIO
AP Retail Writer= NEW YORK (AP) Lawyers for Wal-Mart Stores Inc. have identified Brazil, India, China and South Africa along with Mexico as areas having the biggest risk for corruption, according to a letter from two congressmen who are doing their own investigation into the allegations of bribery in its Mexico operations.
The letter, dated Monday, shed light on a May 21 briefing with outside lawyers from Wal-Mart, who said they had been retained to do a global anti-corruption compliance review of its operations in 2011.
The attorneys from the law firms Greenberg Traurig and Kind Gump said the review focused on Brazil, China and Mexico because they represent the highest corruption risk. Based on the review, they recommended that Wal-Mart also evaluate its operations in India and South Africa
In the letter to Wal-Mart CEO Mike Duke, Democratic congressmen Elijah Cummings of Maryland and Henry Waxman of California wrote that the world's largest retailer hasn't provided any documents regarding the potential violations of the Foreign Corrupt Practices Act, which forbids U.S. companies from bribing foreign officials.
[font size=1]-snip-[/font]
Read more: http://www.guardian.co.uk/world/feedarticle/10286364