Walmart foreign bribery investigation expands to Brazil, China and India

Walmart is being investigated by the Securities and Exchange Commission for foreign bribes, initially in Mexico but now the investigation of potential Foreign Corrupt Practices violations have expanded to Brazil, China and India.ΠThe company has set out teams of lawyers to look into the possible violations of law in Brazil, China and India. Under the Foreign Corrupt Practices Act, it is illegal for any publicly traded or private company to pay bribes to foreign officials or their agents or family members in order to obtain business in that nation. Walmart disclosed yesterday that it had expanded its intermal investigation into possible bribes in Brazil, China and India and not just in Mexico. The company spent $99 million in the first nine months of the year in expenses relating to the matter, including complying with subpoenas, defending lawsuits and conducting the review.