, 8 tweets, 4 min read Read on Twitter
Walmart to pay $137M fine under the Foreign Corrupt Practices Act for bribery in Brazil. They are the most recent of many large companies to get busted based on info the FBI shared with Brazil in 2014-15. #ButNothingsHappening HT @BabeReflex_8
Prosecution by USA for Eastern District of Virginia Terwilliger brought the case. His dad was Barr's DAG in early 1990s.
The guilty plea is for the Brazilian division of Walmart, the corruption in this case covers 2000-2011. Finally being prosecuted now.
This settlement covers the Brazilian subsidiary but the announcement also points to other cases in Mexico, India & China. Wonder if we will see more about soon too!
Wonder why it took 8 years for the DOJ to get around to prosecuting this case....
Walmart saved about 25% on the fines by fully cooperating & flipping on the guilty parties!

All CEOs should know by now to flip early & often!
Walmart also agreed to pay $144M to the SEC for violations for to this case. Bringing the total fines to $282M. If this is like the other cases, this is only the beginning, because other nations & regulators will be given the file to bring more charges.
Walmart has known this was coming for a long time as they announced in 2017, that they were setting aside $300M on their books for potential fines & legal costs. But no one paid attention & thought nothing was happening.
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