August 6, 2020
Posted August 6, 2020
South Carolina-based consumer loan company World Acceptance Corporation has been ordered to pay $21 million to resolve allegations of violating the Foreign Corrupt Practices Act (FCPA). According to the SEC, the company’s former Mexican subsidiary, WAC de Mexico S.A. de C.V., paid more than $4 million in bribes to Mexican officials from 2010 to 2017 in order to secure the ability to make loans to government employees, then recorded the payments as legitimate business expenses. SEC
Tagged in: Bribery and Bid-Rigging, FCPA,