Wal-Mart Stores Inc., the world's largest retailer, created a new position to monitor global compliance with the Foreign Corrupt Practices Act as it investigates allegations of a bribery scandal in Mexico.
The officer will be based in the retailer's headquarters in Bentonville, Arkansas, the company said today in a statement.
Wal-Mart is investigating allegations, raised by an April 21 New York Times story, that executives in Mexico paid more than $24 million in bribes to speed the retailer's expansion there. The company also is the subject of a U.S. Justice Department criminal investigation, a person familiar with the probe said yesterday.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
