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San Diego, CA USA
Experience: Intermediate
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Wal-Mart Stores Inc. WMT +1.13% acknowledged Saturday that it is investigating its operations in Mexico for possible violations of the U.S law that prohibits bribery overseas.
The retailer had disclosed the existence of a bribery probe in a regulatory filing last December but had refused to reveal any details.
But on Saturday it confirmed that the probe involved Mexico, one of its largest markets, after the New York Times NYT -0.63% published a lengthy investigative article which contended that the company learned of allegations of "widespread bribery" by its workers in the country in 2005 — and that top executives subsequently covered them up.
Wal-Mart Confirms Mexico Bribery Probe - WSJ.com
| "Successful trading is one long journey, not a destination" Peter Borish Former Head of Research for Paul Tudor Jones speaking on conversations with John F. Carter |
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