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FCPA Blog Daily News

« How to RESIST paying bribes | Main | More details coming about UK deferred prosecution agreements »
Wednesday
Jun262013

Las Vegas Sands, Wal-Mart India report personnel changes

Casino operator Las Vegas Sands Corp. said its Chief Financial Officer Kenneth Kay will step down on July 31.

The DOJ and SEC are investigating the Sands for possible FCPA violations.

A story published last year by ProPublica and PBS' Frontline cited internal documents about a payment of $700,000 in legal fees to a Macau legislator whose law firm was an outside counsel to Las Vegas Sands.

The company said Kay will provide transition services under a six-month consulting agreement. No further details about Kay's departure were provided.

And the world's biggest retailer, Wal-Mart, said its country head in India had left the company.

Raj Jain became chief of the unit in 2007.

In November last year, Wal-Mart India suspended its CFO.

Wal-Mart is in the midst of a growing bribery investigation that started in Mexico and spread to Brazil, China, and India.

Wal-Mart's 50-50 partner in India is Bharti Enterprises.

The company named Ramnik Narsey as interim India boss.

It didn't provide any details about the change.