Ralph Lauren have settled a lawsuit in which it was claimed that they offered the Argentinian government money to avoid factory inspections during 2005 and 2009.
The company will pay £1 million after a general manager offered £373, 242 to evade the usual paperwork to inspect goods and prohibited goods. God knows what a prohibited good is. The same employee also offered presents and goods to for fake invoices.
The company upon discovering this - reported the bribery two weeks later to be fair. They have also repaid any bribery costs.
"When these issues surfaced at our subsidiary in Argentina, we took immediate action to hire outside counsel and forensic specialists to conduct an internal investigation and reported the matter directly to both the US Department of Justice and the Securities and Exchange Commission"
"We fully cooperated in the ensuing investigations and conducted a worldwide risk assessment. There was no evidence that the improper activity in Argentina was known or authorised by anyone outside of Argentina or that similar practices were occurring at other foreign operations."
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