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RETAIL Walmart Admits Bribery Probe Seth Perlman / AP Photo

Walmart Admits Bribery Probe

After a New York Times article alleged Saturday that retail giant Walmart had used bribery to expand its Mexican markets, the company responded, saying an investigation is underway. According to The Times, managers at Walmart de Mexico greased palms all over the country to gain building permits, a practice Walmart headquarters got wind of and began investigating—but only after as much as $24 million may have been laid out. “This work is ongoing and continues today,” said Walmart’s spokesman of the investigation, who added that the company doesn’t “have a full explanation of what happened.”

April 22, 2012 7:21 AM