Walmart has agreed to pay $ 282 million to reside in a prolonged investigation of the undeniable payment of the world's largest retailer made to obtain government permits in countries such as Mexico and Brazil.
The agreement with the Department of Justice and the Securities and Exchange Commission is one of the largest investigations under the Foreign Corrupt Practices Act, which makes it illegal for American corporations to bribe foreign officials.
The investigation, conducted by two federal agencies, came after the New York Times announced in 2012 that Walmart made suspicious payments to officials in Mexico and then tried to hide them from at the company's headquarters in Bentonville, Ark.
Executives at the company headquarters learned Wrong work done in 2005 but an internal investigation rather than reporting potential violations of regulators. The federal investigations followed the Times article expanded to Mexico in China, India and Brazil.
On Thursday, S.E.C. it said found that Walmart failed to "run an adequate program of compliance with corruption for more than a decade while the retailer experienced rapid international growth."
As part of its agreement with prosecutors, Walmart's son of Brazil was guilty of charges stemming from the payment of a retailer made to a mediator known as "sorceress" and "genie" due to his ability of this year get building permits quickly.
The bribery scandal is a big blow to Walmart's reputation, encouraging investor lawsuits and prompting the company to spend hundreds of millions on bolstering its compliance programs and dealing with investigations.
Walmart's $ 282 million fine will pay less than $ 600 million sought by federal prosecutors and regulators when Walmart discusses a plea agreement in the days of termination of Obama's administration, The Times reported last November.