Walmart to pay $283 mn fine in US over bribery charges in India, other countries

NEW DELHI: New Delhi: Walmart has pleaded guilty in a seven-year-long case that accused the world’s largest retailer of bribing officials in four countries — India, China, Mexico and Brazil — to secure permits for its businesses. The Arkansas-based retailer will pay $282.7 million in fines to settle the case with the US Department of Justice (DOJ) and Securities and Exchange Commission (SEC).

The penalty includes $137.96 million to be paid to the DOJ and $144.69 million in disgorgement of profits plus interest to the SEC. The investigations pertained to Walmart’s operations prior to 2011.