China India most corrupt nations: Walmart!

[CorporateAffairs]

Wal-Mart flags India, China as corrupt nations

Washington: Lawyers for Wal-Mart Stores Inc (WMT.N) have flagged Brazil, China, India and South Africa in addition to Mexico, as countries that represent the highest corruption risk in a global review, according to a letter from lawmakers investigating the company.

The lawyers said they were retained to review Wal-Mart policies in Mexico, Brazil and China, and later recommended the company also evaluate its operations in India and South Africa. The lawyers referred to those five countries as regions where the risk was the greatest, according to the lawmakers.

The company has acknowledged it is investigating bribery allegations involving its Mexican operations, and that it is conducting a global review of its anti-corruption compliance program, but has not provided details about the review.

According to the letter, from Representatives Elijah Cummings and Henry Waxman, both Democrats, Wal-Mart asked its lawyers to expand the review to a worldwide assessment of the company's anti-corruption policies.

The review led Wal-Mart to revise its program to include a new procedure for escalating corruption complaints to senior management and the board's audit committee, the letter said.

Cummings and Waxman, who are the ranking members, respectively, of the House Oversight and House Energy committees, asked the company on Tuesday to provide documents about the review and the recommendations.

The pair wrote to Wal-Mart Chief Executive Michael Duke and also asked him to allow certain witnesses to cooperate with a congressional investigation into the bribery allegations.

Outside lawyers for Wal-Mart at two law firms, Greenberg Traurig and Akin Gump Strauss Hauer & Feld, briefed the lawmakers on May 21 about the company's program to comply with the Foreign Corrupt Practices Act, a 1970s-era law that bars bribes to officials of foreign governments.

But the lawyers did not answer any questions about the substance of the bribery allegations, which were brought to light in an April 21 New York Times report that said that management at Wal-Mart de Mexico (WALMEXV.MX) orchestrated bribes of $24 million to help it grow quickly in the last decade and that Wal-Mart's top brass tried to cover it up.

The two lawmakers have previously expressed frustration about the information they have received from Wal-Mart.

Wal-Mart representatives did not immediately respond to a request for a comment, but the company has said it is "committed to a full and independent investigation," and that "it would be inappropriate for us or others to come to conclusions before the investigation is complete."

While Wal-Mart has tapped the brakes on its growth in Brazil and China, last month Walmart International CEO Doug McMillon said the slowdown was not a result of foreign bribery concerns.

Lawyers for Wal-Mart are scheduled to brief Congressional investigators on Wednesday about the "investigative protocols" the company is using to examine bribery allegations in Mexico, according to the letter.

Source: Wal-Mart flags India, China as corrupt nations - World News - IBNLive

Corruption is ruining my country

 

[Rajaraja Chola]

Is it any secret?

 

[CorporateAffairs]

Is it any secret?

India yes, but never knew china was

 

[aakash_2410]

Chinese are equally corrupt if not more. Anyone from China would back me up on this one but here in the UK, specially in my uni. All the Chinese are children of Communist party members or government officers. They're all hella rich! They drive Mercedez, can afford international fees and everything. I don't think that's how much they officially get paid by the party or the government.

 

[CorporateAffairs]

Guess India and China also share something else other than development and enemity

 

[hunter_hunted]

This is outrageous , Who will b more corrupt than zardari and he is a CEO of company called ppp , so I encourage the board of corrupt people to included him in this HALL OF FAME

 

[CorporateAffairs]

This is outrageous , Who will b more corrupt than zardari and he is a CEO of company called ppp , so I encourage the board of corrupt people to included him in this HALL OF FAME

Bro, politicians in our country have robbed Lakhs of crores of tax payers money. One fellow named Jagan Mohan reddy in the state of Andhra has scams over 15lakh cores! He's under tril now by the CBI.

If money minted by people like Jagan + Raja + Kanimozhi + Chandrababu naidu + Sharad power + Lalu + Mulayam + Mayawati + Yedurappa + Karunadhi + Marans + Madhu Koda + YSR + Vilasrao deshmukh + Kalmadi is taken over by govt. we can be of 10 china's (no offence menat)

Indian politicians

 

[Rajaraja Chola]

Bro, politicians in our country have robbed Lakhs of crores of tax payers money. One fellow named Jagan Mohan reddy in the state of Andhra has scams over 15lakh cores! He's under tril now by the CBI.

If money minted by people like Jagan + Raja + Kanimozhi + Chandrababu naidu + Sharad power + Lalu + Mulayam + Mayawati + Yedurappa + Karunadhi + Marans + Madhu Koda + YSR + Vilasrao deshmukh + Kalmadi is taken over by govt. we can be of 10 china's (no offence menat)

Indian politicians

U 4got AMMA !!

 

[lem34]

Corruption exists everywhere. The west do it in a more subtle way. For example Tony Blair in the UK was very supportive of Americans and Zionists in his tenure. He took UK to war in Iraq even when the British people opposed it. He was then invited after he left office by large companies where Americans and Zionists have control to give lectures for silly large amounts of money.

 

[dott]

Corruption exists everywhere. The west do it in a more subtle way. For example Tony Blair in the UK was very supportive of Americans and Zionists in his tenure. He took UK to war in Iraq even when the British people opposed it. He was then invited after he left office by large companies where Americans and Zionists have control to give lectures for silly large amounts of money.

yaar tu har cheez mein zionism to lee aata. kyoo yaar??? dimag mein koi kami haii and bas chutiyagiri karne ki aadat hai???

 

[CorporateAffairs]

U 4got AMMA !!

+ Jayalalitha

Corruption exists everywhere. The west do it in a more subtle way. For example Tony Blair in the UK was very supportive of Americans and Zionists in his tenure. He took UK to war in Iraq even when the British people opposed it. He was then invited after he left office by large companies where Americans and Zionists have control to give lectures for silly large amounts of money.

Aryan, that is different from this. In India politicians are ruining the country and in the west its more of a show of power. the US, UK, France wanna show their power time and now.

 

[cloud_9]

Chinese billionaire sentenced to life

BEIJING - Lai Changxing, an illiterate peasant-turned-billionaire whose legacy of bribery, smuggling, and monumental profligacy came to personify the excesses of the economic reform era, was given a life sentence on Friday for his role in what the government has described as modern China’s biggest corruption scandal, according to the state news media.

At his peak, Lai drove a bulletproof Mercedes, distributed wads of cash to the poor, and had in his thrall hundreds of officials in Xiamen, the special economic zone in Fujian, the coastal province where he made his fortune. The scandal brought down scores of those officials, led to the unexplained prison deaths of his brother and his accountant, and provoked hand-wringing among top Communist Party officials who feared they might be next.

Although the sentence was heavy, it might have been worse: Former prime minister Zhu Rongji once remarked that Lai’s crimes were so outrageous that being executed three times would not be enough.

But Lai, 53, escaped such a fate by fleeing to Canada more than a decade ago. The Canadian government agreed to China’s extradition request only after obtaining guarantees that Lai would not be tortured or sentenced to death. With his appeals exhausted last July, he was returned to China.

In addition to life in prison for smuggling goods worth $4.3 billion, the Xiamen Intermediate People’s Court added another 15 years for bribes that enriched 64 government officials with cars, cash, and real estate valued at more than $5 billion.

“The sums involved are unusually large and the details are extraordinarily serious, meriting the double sentence,’’ the court said, according to Xinhua, the state-run news agency. The crimes cited by the court took place between 1996 and 1999.

Lai’s undoing also brought down many of the city’s leading officials, from the deputy mayor and the vice director of public security to a former provincial party secretary. In all, about 300 officials were implicated; 14 were condemned to death, although most of those sentences were commuted to life in prison.

But a few of those on the top end of the food chain escaped punishment. Vice President Xi Jinping, expected to be China’s next leader, was deputy governor and then governor of Fujian at the time of Lai’s reign. In 1999, after the scandal erupted into full view, Xi was summoned to Beijing to explain how such a gaudy corruption ring had flourished under his watch, according to reports at the time.

After escaping to Hong Kong on a tourist visa, Lai made his way to Vancouver, British Columbia, where he, his wife, and three children continued to live well, thanks in part to the largess of appreciative friends in China. The 11-year extradition battle that followed strained relations between the two countries, but in the end, an Ottawa court rejected his application for refugee status, calling Lai a “common criminal.’’

Zardari is a small fish in a big pond

 

[Edevelop]

Is this seriously coming from Walmart?

Man they really do have issues of their own. People are suing them like all the time. They need to handle that situation first....

 

[Backbencher]

I thought Russians were the most corrupteed people out here

 

[IND151]

Is this seriously coming from Walmart?

Man they really do have issues of their own. People are suing them like all the time. They need to handle that situation first....

are you referring to insurance policies they took for their employees which were deliberately selected for job despite at health risk?