Walmart Inc. agreed to pay more than US$140 million to reach an agreement with the U.S. Department of Justice that its Brazilian unit violated U.S. bribery laws by paying an intermediary to help the company obtain permits Construction.
WMT Brasilia pleaded guilty to not maintaining accurate records, while the US matrix reached an agreement with the Department of Justice not to trigger prosecution for violations of the Foreign Corrupt Practices Act.
The Brazilian unit’s statement follows a year-long criminal investigation into allegations that Walmart paid bribes to advance its business in Mexico, China, India and Brazil.
In the final days of the Obama administration, Walmart opposed demands to pay more than $600 million in fines, leading prosecutors to gather more witness evidence, people familiar with the issue told Bloomberg at the time.
In 2017, the company set aside nearly $300 million for a possible deal, after which the parties got stuck by misconduct that the retail giant would admit, said a person familiar with the matter.