Wal-Mart Close to Resolving Bribery Probe for $300 Million
- Penalty would be far lower than U.S. had sought last year
- Pact related to Mexico, China conduct said to include monitor
Wal-Mart Close to Resolving Bribery Probe for $300M
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Wal-Mart Stores Inc. is preparing to pay roughly $300 million to resolve a long-running U.S. investigation into allegations of bribery by its employees, according to people familiar with the matter.
The deal, which the people said was being finalized and still could change, would amount to a significant concession by the U.S. government. The Justice Department and Securities and Exchange Commission had sought at least twice that amount as recently as last year as they investigated bribery allegations linked to Wal-Mart’s business in countries including Mexico, China and India. The proposed penalty could be easily absorbed by the world’s largest retailer.