Business

Walmart faces bribery charges and fines

Monday, April 23, 2012

Walmart says it's conducting a full investigation into bribery charges. It comes after the New York Times reported the retailer paid more than $24 million in construction-related bribes to expand quicker in Mexico.

The accusations in the story date back to an executive's e-mail from 2005. The Department of Justice and Securities and Exchange Commission are also investigating. Walmart could face big government fines.

A company spokesman released this statement on the investigation: "If these allegations are true, it is not a reflection of who we are or what we stand for. We are deeply concerned by these allegations and are working aggressively to determine what happened."

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