Walmart to pay $138M over Brazil corruption
Posted June 20, 2019 11:55 am.
ALEXANDRIA, Va. — Walmart has agreed to pay a $138 million criminal penalty to settle a Justice Department claim that it and a Brazilian subsidiary violated the Foreign Corrupt Practices Act.
The settlement was reached Thursday in federal court in Alexandria, Virginia.
Court documents state that the Brazilian subsidiary made $527,000 in payments to an intermediary known as the “sorceress” for her ability to expedite construction permits.
Walmart did not immediately respond to a call and emails seeking comment.
According to the Securities and Exchange Commission, companies including Halliburton, Anheuser-Busch InBev, JPMorgan and Panasonic Corp. have all reached multimillion settlements under the Foreign Corrupt Practices Act since 2016.
Walmart reported $3.84 billion in profit in its most recent quarterly earnings.
The Associated Press
