Walmart receives punishment of 282 million dollars for paying bribes in Mexico and other countries

Walmart Inc was fined in the United States and will have to pay 282 million dollars as punishment for paying bribes in Brazil, Mexico, India, and China to speed up the expansion of their businesses, informed US authorities.

"We are pleased to have resolved this matter. Walmart is committed to operating correctly and that means acting ethically in all the places where we operate." Stock image
"We are pleased to have resolved this matter. Walmart is committed to operating correctly and that means acting ethically in all the places where we operate." Stock image

The retailer agreed to pay a $ 144 million fine to the Securities and Exchange Commission (SEC), and another $ 138 million to the Department of Justice, the financial regulator said.

"The commission accused Walmart of violating the Foreign Corrupt Practices Act (FCPA) by not operating a sufficient anti-corruption compliance program for more than a decade, as the retailer experienced rapid international growth," the SEC said in a statement. release.

In 2012 Walmart was singled out in a New York Times news investigation to let its subsidiaries in Brazil, China, India, and Mexico turn to third parties to pay bribes to local authorities and thereby facilitate the expansion of the company in those markets.

"As part of the resolution, Walmart reached an agreement with the United States Department of Justice, which will not prosecute or prosecute the company, if it complies, for a period of three years, with the obligations established in the agreement," detailed the subsidiary of Walmart in Mexico in a statement.

Bribes of Walmart in Mexico

Walmart was accused of suspicious payments to officials in Mexico and then tried to hide the matrix.

The journalistic investigation included interviews with a former executive of Walmart in Mexico, who described how the firm delivered cash envelopes to officials to buy zoning approvals, reductions in environmental tariffs.

The investigation identified 19 sites in Mexico that were targeted by bribes, including the opening of a store in Teotihuacán where the firm paid $ 200,000 to obtain the permit and used about $ 52,000 to make illegal modifications to the construction area.

By Agencies

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