Summary
The video provides examples of well-known companies facing legal actions for involvement in corrupt practices. Innospec, Alstom, Walmart, Chiquita (formerly United Fruit Company), and Ralph Lauren Corp. are just a few of the companies mentioned. These cases demonstrate the global reach and consequences of corruption in the business world, leading to significant fines and legal repercussions for the organizations involved.
Innospec Guilty Plea and Fine
In 2010, the US chemical company Innospec pled guilty to a series of crimes, including bribing Iraqi officials with the Iraqi ministry of oil.
Alstom Fine for Bribery
Alstom, the French power and transportation company, was fined 772 million dollars in 2014 for paying 75 million dollars in bribes to officials in the Bahamas.
Walmart Settlement for FCPA Violation
In 2019, Walmart agreed to pay 282 million dollars to settle charges of Foreign Corrupt Practices Act rules violation by its unit in Brazil.
Chiquita Brands International Case
Chiquita, formerly United Fruit Company, faced legal challenges for exploiting workers and paying protection money to a paramilitary organization, leading to a $25 million fine in 2001.
Ralph Lauren Corp. Bribery Case
Ralph Lauren Corp.'s subsidiary in Argentina paid $580,000 in bribes to customs. In 2013, Ralph Lauren agreed to pay $882,000 to the US Justice Department and committed to anti-bribery trainings for employees.
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