Wal-Mart is expanding an investigation of alleged corrupt business
practices beyond Mexico to other nations, including China, according to
two Democratic congressmen.
Rep. Henry Waxman of California and Rep. Elijah Cummings of Maryland, ranking members of two House committees, said the retailer's outside counsel was retained to look into anti-corruption policies and operations in Brazil and China, as well as Mexico.
In a letter to Wal-Mart (WMT, Fortune 500) Chief Executive Michael Duke dated Tuesday, the congressmen also said the attorneys recommended that the probe be expanded to include operations in India and South Africa.
Wal-Mart spokesman David Tovar, in response to questions about the letter, said his company has expanded the review of its anti-corruption program that began in March 2011.
"They list five [countries,]" said Tovar. "We're looking at every country in which we operate."
The investigation stems from allegations that Eduardo Castro-Wright, the former CEO of Wal-Mart de Mexico and former head of Wal-Mart U.S., orchestrated $24 million worth of alleged bribes in Mexico to streamline construction projects, dating from 2005.
Read more: http://money.cnn.com/2012/06/13/news/companies/walmart-mexico-congress/index.htm?iid=SF_BN_River
Rep. Henry Waxman of California and Rep. Elijah Cummings of Maryland, ranking members of two House committees, said the retailer's outside counsel was retained to look into anti-corruption policies and operations in Brazil and China, as well as Mexico.
In a letter to Wal-Mart (WMT, Fortune 500) Chief Executive Michael Duke dated Tuesday, the congressmen also said the attorneys recommended that the probe be expanded to include operations in India and South Africa.
Wal-Mart spokesman David Tovar, in response to questions about the letter, said his company has expanded the review of its anti-corruption program that began in March 2011.
"They list five [countries,]" said Tovar. "We're looking at every country in which we operate."
The investigation stems from allegations that Eduardo Castro-Wright, the former CEO of Wal-Mart de Mexico and former head of Wal-Mart U.S., orchestrated $24 million worth of alleged bribes in Mexico to streamline construction projects, dating from 2005.
Read more: http://money.cnn.com/2012/06/13/news/companies/walmart-mexico-congress/index.htm?iid=SF_BN_River
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