Lawmakers suspect money laundering issues at Wal-Mart
Lawmakers suspect money laundering issues at Wal-Mart
Tue, 14 Aug 2012 22:41 GMT
Source: reuters // Reuters Source: reuters // Reuters
* Lawmakers probing allegations of bribery in Wal-Mart's Mexico unit
* Wal-Mart also cooperating with DOJ, SEC on probe
* Lawmakers say internal records may show other compliance problems
* Records may point to money laundering, tax evasion issues
* Lawmakers give Wal-Mart one more chance to turn over documents
By Sarah N. Lynch and Aruna Viswanatha
WASHINGTON, Aug 14 (Reuters) - Two U.S. House Democrats investigating bribery allegations in Wal-Mart's Mexico affiliate said on Tuesday they have obtained new internal records that may point to evidence of tax evasion and money laundering.
Reps. Elijah Cummings and Henry Waxman, who are the ranking members, respectively, of the House Oversight and House Energy committees, disclosed the latest details of their probe in an Aug. 14 letter to the company.
"We have obtained internal company documents, including internal audit reports, from other sources suggesting that Wal-Mart may have had compliance issues relating not only to bribery, but also to 'questionable financial behavior' including tax evasion and money laundering in Mexico," the lawmakers wrote in their letter to Wal-Mart Chief Executive Michael Duke.
Brooke Buchanan, a Wal-Mart spokeswoman, said the company is still conducting a "thorough and independent investigation
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