Mexico Wal-Mart bribery probe yields no evidence yet: watchdog

MEXICO CITY Sat Nov 24, 2012 4:46am IST

Shoppers cart their purchases from a Wal-Mart store in Mexico City, April 24, 2012. REUTERS/Edgard Garrido

Shoppers cart their purchases from a Wal-Mart store in Mexico City, April 24, 2012.

Credit: Reuters/Edgard Garrido

Stocks

   

MEXICO CITY (Reuters) - Mexico's anti-corruption body has found no irregularities in its probe of permits and documents given to retailer Wal-Mart to open stores, but two audits remain underway, the agency's chief said on Friday.

The Federal Comptroller's office opened the investigation into the company's administrative procedures in April after the New York Times reported the company bribed local officials so it could open stores more rapidly in Mexico.

"We had to audit many ministries ... and so far we have not found anything that would be cause for a harsh opinion against Wal-Mart," Rafael Morgan, head of the Federal Comptroller's office, told reporters. "We don't have any case against Wal-Mart," he added, but offered no details of the two ongoing audits.

Wal-Mart de Mexico (WALMEXV.MX), owned by Wal-Mart Stores Inc (WMT.N), scrapped plans to open around 100 new stores this year and announced it would lengthen the internal process for opening new stores. The Mexican government recently announced that Wal-Mart had complied with all the rules for obtaining permits for its stores.

The U.S. Justice Department has also opened an investigation into potential violations of the Foreign Corrupt Practices Act, a U.S. law that forbids bribery of foreign officials.

(Reporting by Veronica Gomez; Writing by Alexandra Alper. Editing by Andre Grenon)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Public Health

REUTERS SHOWCASE

Airtel Profit Jumps

Airtel Profit Jumps

Bharti Q2 net profit more than doubles   Full Article 

Maruti Earnings

Maruti Earnings

Maruti Suzuki net profit up 29 percent, beats estimates.  Full Article 

ICICI Results

ICICI Results

ICICI Bank Q2 profit up 15 percent, beats estimates.  Full Article 

Cost Cutting

Cost Cutting

PM Narendra Modi boots officials out of the first class cabin  Full Article 

Market at Record

Market at Record

Sensex, Nifty hit record highs; reforms outpace hawkish Fed.  Full Article 

Moody's on India

Moody's on India

Moody's welcomes India's policy steps, but wants to see more.  Full Article 

End Of QE

End Of QE

U.S. Fed ends bond buying, exhibits confidence in U.S. recovery.  Full Article 

Samsung Results

Samsung Results

Smartphone woes drag Samsung Elec Q3 profit to more than 3-year low.  Full Article 

Refining Margins

Refining Margins

BPCL aims to double refining margins with refinery expansion.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage