New York – U.S biggest retailer, Wal-Mart Stores Inc., threatened hundreds of millions of dollars in financial penalties if convicted of giving bribes to officials in Mexico to pave a plan to dominate the market. The company officials were dismissed and face the threat of imprisonment.
This is expressed by two members of the Congress of the United States, Elijah Cummings and Henry Waxman. Both members of Congress from the Democratic Party is declared immediately conducted an investigation into bribery these problems and have been sent a summons to the CEO of Wal-Mart, Mike Duke. The Washington Post reported, the U.S. Justice Department has launched a probe criminal delict over the case.
“This case will be a serious disruption to the Wal-Mart in many ways,” said Deutsche Bank retail analyst, Charles Grom, as quoted by the Associated Press, Tuesday, April 24, 2012.
Wal-Mart bribery case is revealed through the preaching of The New York Times earlier this week about Wal-Mart’s business strategy in Mexico. In the paper is said to be a bribe was uncovered e-mails from a lawyer for Wal-Mart executive in 2005. In the letter, the lawyer said the subsidiary of Wal-Mart, Wal-Mart de Mexico, set bribery to win the license of establishing a store in every strategic location in Mexico.
“Lawyers have a strong information because he was in charge secure a building permit,” the New York Times article quoted as saying by AFP. Wal-Mart was then sent an investigator to Mexico City officials to settle the case. A few days later, investigators had evidence of bribes worth more than U.S. $ 24 million.
Responding to this case, Vice President Corporate Communications Wal-Mart, David Tovar, said it was still investigating the case. “The investigation is continuing. Therefore, we can not give any further explanation,” he said.