Brad's Feed
Apr 22, 2012

Wal-Mart’s Mexico probe could lead to departures at the top

By Jessica Wohl and Brad Dorfman

(Reuters) – Allegations that Wal-Mart Stores Inc stymied an internal investigation into extensive bribery at its Mexican subsidiary is likely to lead to years of regulatory scrutiny and could eventually cost some top executives their jobs, analysts said.

The New York Times said that in September 2005, a senior Wal-Mart lawyer received an email from Sergio Cicero Zapata, a former executive at the company’s largest foreign unit, Wal-Mart de Mexico, describing how the subsidiary had paid bribes to obtain permits to build stores in the country.

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