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Wal-Mart Execs Facing Charges of Bribery in Mexico?

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  • Description

    FBN’s Liz MacDonald breaks down whether company execs bribed Mexican officials.

  • Duration 1:35
  • Date

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-- -- -- And wal mart's Mexican unit used point four million dollars to -- authorities in that country and then to top executives covered up.

Was McDonald is here with more -- what's Wal-Mart -- Yeah Wal-Mart has is out with a very lengthy statement sort of Marie bubbled to the New York Times story that is that basically rocking the company right now bribery scandal that Wal-Mart.

Not only didn't discipline it didn't notify and covered up what was going on -- this alleged bribery scandal in Mexico take a listen what Wal-Mart is saying.

Many of the alleged activities in the New York Times article are more than six years old.

We are deeply concerned by these allegations and are working aggressively to determine what happened.

-- -- markets on to say it is aggressively looking into what happened in Bentonville Arkansas six years ago because the board and top executives could have been involved in the cover appear well it's interesting is you heard they outtakes then I come on and.

Exactly this -- canned statements six years old I understand up attorney second is right.

-- -- some trouble here correct and they could face up to.

Five years in prison which is very typical to -- executives and bribery charges.

But Wal-Mart also disclosing and -- -- -- C filings that this is immaterial to its financial results as a company and an -- more than for an eighty billion dollars -- for millions of drop in the bucket.

But is said it would be a shock to it's got credibility in the marketplace and at the SEC department justice finds that it's broke pervasive problem.

That it did not have proper oversight of what was going on Mexico.

That's where the focal part of the investigation could they not and material with a -- happens laws on the stock that's right Liz thank you so much -- solve all over.

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