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Walmart to pay $138M over Brazil corruption

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Walmart to pay $138M over Brazil...

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ALEXANDRIA, Va. (AP) – Walmart has agreed to pay a $138 million criminal penalty to settle a Justice Department claim that it and a Brazilian subsidiary violated the Foreign Corrupt Practices Act.

The settlement was reached Thursday in federal court in Alexandria, Virginia.

Court documents state that the Brazilian subsidiary made $527,000 in payments to an intermediary known as the “sorceress” for her ability to expedite construction permits.

Walmart did not immediately respond to a call and emails seeking comment.

According to the Securities and Exchange Commission, companies including Halliburton, Anheuser-Busch InBev, JPMorgan and Panasonic Corp. have all reached multimillion settlements under the Foreign Corrupt Practices Act since 2016.

Walmart reported $3.84 billion in profit in its most recent quarterly earnings.

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