JIM BEAM FACES SEC HANGOVER AFTER BRIBERY ALLEGATIONS IN INDIA

Bloomberg on 2nd July reported that a push by the distributor of Jim Beam to get more Indians to drink its products has left the company with a hangover in the US.  Beam Suntory Inc has agreed to pay about $8 million for allegedly bribing government officials 2006-2012 to make inroads in the South Asian country’s highly regulated liquor business, the US SEC said.  The company made illicit payments through third-party sales promoters and distributors to get licences and secure prominent placements on store shelves.

https://www.bloomberg.com/news/articles/2018-07-02/jim-beam-faces-sec-hangover-after-bribery-allegations-in-india?src=ilaw

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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