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Wal-Mart foreign bribery investigation expands

New York -- Wal-Mart Stores reported in a regulatory filing that its investigation into violations of the Foreign Corrupt Practices Act, a federal antibribery law, has extended beyond Mexico to China, India and Brazil.  

“Inquiries or investigations regarding allegations of potential FCPA violations have been commenced in a number of foreign markets where we operate, including but not limited to Brazil, China, and India,’’ the company said in a Securities and Exchange Commission filing that accompanied its third-quarter financial results.

In the filing, Wal-Mart said it had “identified or been made aware of’” other potential violations.

“When such allegations are reported or identified, the Audit Committee and the company, together with their third-party advisers, conduct inquiries and when warranted based on those inquiries, open investigations,” the retailer said.

 

© 2014