Smith & Wesson execs indicted according to CNBC

U.S. charges 22 for bribery involving arms sales
Tue Jan 19, 2010 1:11pm EST
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Smith & Wesson Holding Corp
SWHC.O
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WASHINGTON, Jan 19 (Reuters) - U.S. authorities accused 22 people, including an executive for Smith & Wesson (SWHC.O), with violating federal bribery laws involving the sale of various arms, according to indictments unsealed on Tuesday.

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The indictments charged the individuals, including Smith & Wesson vice president for sales Amaro Goncalves, with violating the Foreign Corrupt Practices Act and conspiracy to commit money laundering involving the sale of items including guns and body armor, among other things.

The indictments, filed in December, were unsealed by a U.S. judge on Tuesday.

The individuals were arrested on Monday, according to court documents.

http://www.reuters.com/article/idUSWAT01403620100119?type=marketsNews
 
Some countries/governments/crooks require fee's to be paid in order for a company to get import approval etc.
I work for a pharmaceutical company, and about 10 y back we went through something similar with the company putting out directives that we would not do business with any country etc that required such fees.
It could be something similar to this.
 
Fraud, graft and bribery are fraud graft and bribery, but doesn't our government have bigger fish to fry at the moment? Oh, my mistake, yes they do. That would be us... [sad2]
 
Its sales & marketing 101 to be aware of FCPA - doesn't matter whether its firearms, jeeps or power generation equipment. In a previously life we had a case of dealings in a South American country which ended up in pretty much everyone in that office their being fired, including their US based CEO. Not only are company directors personally on the hook for their companies culture/behavior (i.e. they can go to jail), company can be fined big bucks. Bottom line, know your customer and walk away if anything looks sketchy. Its the cost of doing business (or not...) as an American company.
 
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