Walmart involved in bribery scandal

Discussion in 'Money, Self-Development' started by obiora, Apr 23, 2012.

  1. obiora

    obiora Oforkansi

    Wal-Mart bribery allegations could have far-reaching impact (WMT)

    Revelations about an alleged bribery effort and cover-up by top executives at Wal-Mart’s Mexican subsidiary could be very costly for the world's biggest retailer, legal and retail experts said Monday.
    A New York Times article published over the weekend said executives deliberately obstructed an internal probe into bribery at Wal-Mart de Mexico, the company's largest international division.
    The allegations, if proven true, could badly hamper the company and its management for years.
    They could lead to a time-consuming global probe, substantial financial penalties imposed by U.S. authorities and the departure of some executives, experts said.
    “We could easily see criminal prosecutions,” said Jacob Frenkel, a former official of the Securities and Exchange Commission.
    “The fact that it’s a U.S. company working through a Mexican subsidiary does not give the U.S. company protection,” Frenkel told CNBC, adding that anyone who is found to have their fingerprints on the alleged wrongdoings “has potential liability, civilly and criminally.”
  2. obiora

    obiora Oforkansi

    Is this how they want to invest in Nigeria?. Corrupt us with bribes?
  3. Sola

    Sola Administrator Staff Member

    Seriously, don't all these guys do it anyhow? They just remain under the radar. They're trying to penetrate certain societies that have been crippled by layers of corruption and they join the game to make progress. No be say their hand clean before o. Greed is good is equal to anything goes, abi?
    chiomze likes this.
  4. chiomze

    chiomze Dr. Know Know Aproko-itis

    The fact is in mexico if you want to get anything accomplished you have to bribe.
    Only a fool will go to Nigeria to open buiz with American mentality, unless you are ready to be frustrated it will not work.
    Speaking as one who knows how Mexico is akin to naija in the corruption area, I am not surprised. Naija you get contract ready to cut cost o or hike up your charges because you go bribe, shikena.

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