Wal-Mart Stores (WMT.N) may be facing sizable fines related to allegations of widespread bribery at its Mexican affiliate, after a second report from the New York Times provided more details about the scope of the alleged misconduct.
Experts said the latest report, published online late on Monday, is significant because it appears to show that the alleged bribes were a substantial part of its business methods, and more than routine payments to speed up approvals, which are allowed under U.S. law.
The newspaper said the world's largest retailer opened some 19 stores by using hundreds of thousands of dollars in bribes to get what local laws otherwise prohibited.
On Monday, Wal-Mart said the allegations in the Times report have been part of the investigation of potential FCPA violations the company began conducting more than a year ago. Wal-Mart declined to provide additional comment on Tuesday.