This doesn't look too good: New allegations of corruption have come out about Walmart's speedy expansion into Mexico, courtesy of a former executive who worked for Wal-Mart de Mexico until 2004, Sergio Cicero Zapata. More specifically, he claims that the company spent about $24 million bribing city and government officials. Eeek.
According to a New York Times article:
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Of course, Walmart released a statement disputing Cicero's claims, though it basically tells us nothing. In it, company spokesman David Tovar detailed that, if there was bribery, it happened over six years ago, and: "We take compliance with the U.S. Foreign Corrupt Practices Act (FCPA) very seriously and are committed to having a strong and effective global anti-corruption program in every country in which we operate. We will not tolerate noncompliance with FCPA anywhere or at any level of the company."
Sounds a tad shady. Opinions?
[via Gawker]
