Wal-Mart bribery case: Company may be heavily penalised
   
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Wal-Mart bribery case: Company may be heavily penalised

Last Updated: Wednesday, December 19, 2012, 09:41
 
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Wal-Mart bribery case: Company may be heavily penalised
Zeebiz Bureau

Washington: Wal-Mart Stores may be facing sizable fines related to bribe allegations that the company made to get its way into Mexico City after an unfavorable zoning decision by the nation’s leaders prohibited the firm to open a store in an area.

According to an investigation launched by The New York Times, Wal-Mart longed to open a store in Elda Pineda’s alfalfa field, a location, just off this town’s bustling main entrance and barely a mile from the pyramids, and draws tourists from around the world.

The firm calculated it would attract 250 customers an hour if only it could put a store in Mrs. Pineda’s field. However, a 2003 zoning map prohibited commercial development on Mrs. Pineda’s field, seemingly dooming Wal-Mart’s hopes, following which officials at the headquarters of Wal-Mart de Mexico paid a 52,000 dollar bribe to go ahead with store plans.

With Agency Inputs


First Published: Wednesday, December 19, 2012, 09:41


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