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April 23, 2012

Walmart Faces Bribery Scandal in Mexico 
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Walmart is facing a major bribery scandal that could find the company
charged with violations of the Foreign Corrupt Practices Act. The New
York Times has revealed Walmart executives in Mexico paid out more than
$24 million in bribes to obtain permits to build stores in the country
and then corporates executives in the United States attempted to
cover-up the bribes. According to the Times, current Walmart Chief
Executive Mike Duke and former CEO Lee Scott, who still sits on the
company's board, were among senior executives allegedly aware of the
situation. No one from Walmart notified U.S. or Mexican law enforcement
officials until the Times began investigating the story.

 

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