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The New York Times reports that Walmart has suspended several employees of its joint venture in India, including the company's CFO, in a move that is described by the paper as being "part of an internal corruption investigation" that was begun when it was charged that the company was guilty of systemic bribery of public officials in Mexico.

That investigation has so far cost the company more than $100 million and has been expanded beyond Mexico to Brazil, China and India - all global markets that are important parts of Walmart's expansion plans. In addition to Walmart internal probe, there also are investigations being conducted by the US Department of Justice and the US Securities and Exchange Commission (SEC).

According to the Times, "The news comes at a sensitive time for foreign retailers in India, where corruption scandals in industries such as telecommunications and coal mining have badly damaged the ruling Congress Party. Eager to rekindle foreign investment, the Congress Party eased foreign investment rules in September, paving the way for Wal-Mart and others - which had been limited to wholesaling - to run retail shops with a local partner."

Walmart's partner in India is Bharti Enterprises.
KC's View:
Fish gotta swim, birds gotta fly ... and now at various organizational levels at Walmart, I think, heads gotta roll.

I cannot help but believe that there have to be a lot of bodies buried, ledgers adjusted, and eyes wide shut at Walmart HQ. I will be shocked if the momentum on this story does not continue to build.