Reuters: World News: Mexico starts investigation in Wal-Mart bribery case

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Mexico starts investigation in Wal-Mart bribery case Apr 25th 2012, 20:44 Tweet Share this Email Print Related News Wal-Mart shareholder sues over bribery scandal 4:39pm EDT Wal-Mart reveals lawyers, accountants on FCPA issues 12:02pm EDT Wal-Mart appoints global anti-bribery watchdog Tue, Apr 24 2012 UPDATE 4-Wal-Mart appoints global anti-bribery watchdog Tue, Apr 24 2012 Wal-Mart shaken by bribery probe, shares plunge Mon, Apr 23 2012 Analysis & Opinion Washington Extra – The bench's backstories Counterparties: Suddenly no one likes austerity A general view of a Wal-Mart store in Mexico City, April 24, 2012. Credit: Reuters/Edgard Garrido By Dave Graham MEXICO CITY | Wed Apr 25, 2012 4:44pm EDT MEXICO CITY (Reuters) - Mexico's federal comptroller's office said on Wednesday it would open an investigation into allegations that the Mexican unit of Wal-Mart Stores Inc bribed officials to expand its business in Mexico. The office said it has begun checking the federal paperwork and permits Wal-Mart de Mexico, known as Walmex, obtained to open and operate its stores in Mexico. The comptroller's office added that it would ask U.S. authorities for information on the case, in order to carry out its investigation. Wal-Mart did not immediately comment on the investigation. The world's largest retailer is also facing a criminal probe by the Department of Justice over potential violations of the U.S. Foreign Corrupt Practices Act, a U.S. law that forbids bribing foreign officials. On Saturday, The New York Times reported that a senior Wal-Mart lawyer received an email from a former executive at Walmex in September 2005 that described how the Mexican affiliate, known as Walmex, had paid bribes to obtain permits to build stores in Mexico. The newspaper said that senior Wal-Mart officials stymied an internal investigation into the alleged bribery. In response to that story, "We have met voluntarily with the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) to self-disclose the ongoing investigation on this matter," Wal-Mart said on Saturday. "We also filed a 10-Q in December to inform our shareholders of the investigation. The Company's outside advisors have and will continue to meet with the DOJ and SEC to report on the progress of the investigation." (Reporting by Dave Graham in Mexico City, Jessica Wohl in Chicago, additional reporting by Aruna Viswanatha, David Ingram and Andrew Longstreth; Editing by Gerald E. McCormick and Matthew Lewis) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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