Professor Says Part Of Walmart’s FCPA Settlement Was ‘Excessive’

It’s been less than a month since Walmart announced the $282.7 million settlement to a nearly eight-year probe by the U.S. Department of Justice and the Securities and Exchange Commission. Lost in the reporting was the weakness of the overall case which languished almost twice as long as the industry average, according to Mike Koehler, who has experience in Federal Corrupt Practices Act investigations.

Koehler, a law professor at Southern Illinois University on FCPA matters, told Talk Business & Politics the settlement fine was not surprising because he believes the case was overblown by the New York Times media account that he alleges strayed from the facts. He said the settlement revealed no bribery but instead involved a lack of internal controls dating back 10 to 20 years ago. He said this was a weak case as most multinational companies would have used decentralized compliance methods and third-party intermediaries during the time of Walmart’s infraction.      MORE

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