(Photo: Damian Dovarganes/AP)
Wal-Mart Stores Inc. engaged in suspected bribery worth millions of dollars in India, the Wall Street Journal reported Monday, citing a federal investigation into allegations of corruption in the company. Investigators discovered the suspected bribery while investigating alleged corruption at the American retail giant’s operations in Mexico.
The report stated that Wal-Mart paid thousands of small payments to low-ranking Indian officials to help move goods through customs or acquire real-estate permits. In 2013, Wal-Mart dropped plans to open stores in the South Asian country in a joint venture with Bharti Enterprises Ltd. The retail chain instead chose to become a wholesaler in India, the Journal reported.
“The vast majority of the suspicious payments were less than $200, and some were as low as $5, the people said, but when added together they totaled millions of dollars,” the newspaper stated.
The original article can be found at www.ibtimes.com