Business

Walmart to pay $282 million in foreign corruption settlement

By Ellie Bufkin
Published June 21, 2019 12:05am ET
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Walmart to pay $282 million in foreign corruption settlement
A shopper loads her car after shopping at a Walmart in Pittsburgh, Thursday, Feb. 22, 2018. According to a statement from the company, the decision to raise the minimum firearm purchasing age to 21 was reached "in light of recent events" and that the company plans to execute the change "as quickly as possible." (AP Photo/Gene J. Puskar) | Gene J. Puskar

Walmart settled a federal allegation of foreign corruption in a Virginia courthouse Thursday to the tune of $282 million.

Federal investigation of Walmart began in 2012 over suspicions that they had been violating the Foreign Corrupt Practices Act, which prohibits companies and individuals from bribing foreign officials in furtherance of a business deal, according to the Associated Press.

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