• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

US fingers Walmart boss in Mexico bribe

Jan 10 2013 19:21 Reuters
walmart

(AFP)

Related Articles

Inquiry into Walmart lobbying tactics

Walmart tills ring despite protests

Massmart sees margin pressure

India investigates Wal-Mart

Walmart faces wage lawsuit

Walmart, Disney used deadly factory

 
Washington - US lawmakers on Thursday released emails that appeared to show Walmart Chief Executive Mike Duke knew as far back as 2005 of allegations that company representatives had bribed Mexican officials.

The emails appeared to contradict the company's public statements about a bribery scandal tied to its Mexican affiliate, Walmart de Mexico. Lawmakers said Walmart Stores Inc did not dispute the authenticity of the emails.

In two reports last year, the New York Times described how Walmex used large bribes throughout Mexico to open stores it would otherwise have been unable to launch, and how Walmart headquarters had stifled an early internal probe.

The second report focused on how Walmex allegedly paid $52 000 to change a zoning map so it could open a store near the ancient pyramids in Teotihuacan.

The company has maintained its senior executives did not recall mentions of bribery allegations related to the Teotihuacan store.

But in documents released by Elijah Cummings, the top Democrat on the US House Oversight Committee, and Henry Waxman, the top Democrat on the House Energy and Commerce Committee, senior lawyers for the company told Duke about the Teotihuacan allegations in 2005.

One email from Walmart General Counsel Thomas Mars in October 2005 provided Duke with a memo summarizing the allegations with a note saying: "You'll want to read this. I'm available to discuss next steps."

A Walmart spokesperson said the company would respond to questions about the matter shortly.

Shares of Walmart were down 1% to $67.90 in late-morning trading.

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

walmart  |  united states  |  mexico
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Fewer high-risk election areas - Mthethwa

There are fewer high-risk election areas this year compared to past elections, Police Minister Nathi Mthethwa has said while visiting Manenberg in Cape Town.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...