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Walmart Inc. and Brazil-Based Subsidiary Agree to Pay $137 Million to Resolve Foreign Corrupt Practices Act Case

On June 20, 2019, officials announced that multinational retailer Walmart, Inc. (“Walmart”) and Brazilian subsidiary WMT Brasilia S.A.R.L. (“WMT Brasilia”) agreed to pay combined penalties of $137 million to resolve DOJ’s investigation into alleged FCPA violations in several countries.  The government’s allegations involved the companies’ anti-corruption controls in relation to due diligence on third-party intermediaries.  Parent company Walmart entered into a three-year non-prosecution agreement (“NPA”) with the government and agreed to a two-year independent corporate
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Acting Manhattan U.S. Attorney Announces Agreement with Swiss Asset Management Firm to Resolve Criminal Tax Investigation

On August 15, 2017, Prime Partners SA entered into a non-prosecution agreement with the U.S. Attorney’s Office for the Southern District of New York.  As part of that agreement, Prime Partners agreed to pay $5 million to the U.S.  Prime Partners admitted that it aided its clients in concealing their ownership of foreign bank accounts in order to avoid paying taxes—totaling about $680,000—to the U.S. government.  As part of this effort, Prime Partners created sham
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