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

REUTERS SHOWCASE

Literary Giant Dies

Literary Giant Dies

Nobel winner Garcia Marquez, master of magical realism, dies at 87.  Read 

Election 2014

Election 2014

India holds biggest day of voting with BJP gaining strength  Full Article | Full Coverage 

Insider Trading

Insider Trading

Ex-Goldman director Gupta starts prison term on June 17.  Full Article 

Market Eye

Market Eye

Sensex jumps 351 points, snaps 3-day losing streak  Full Article 

Expansion Plans

Expansion Plans

Reliance Industries, HPCL Mittal plan refinery expansions.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Deal Talk

Deal Talk

Piramal to buy 20 percent stake in Shriram Capital for $334 million.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

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