The Presidential Daily Brief


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    Walmart to Pay $282M in Foreign Bribery Settlement

    The deal concludes a six-year investigation into Walmart’s dealings abroad, including allegations of paying bribes to launch new locations in violation of the Foreign Corrupt Practices Act. The big box retailer will pay $144 million to the Securities and Exchange Commission and a further $138 million to the Justice Department. CEO Doug McMillon said the company’s “pleased to resolve this matter” and reported that it has invested heavily in improving its ethics.

    How widespread were Walmart’s alleged actions? The charges stem from a New York Times investigation that revealed bribery in Mexico — though similar activity reportedly took place as far afield as India, Brazil and China.

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