US charges tobacco companies for bribery in Malawi

The Securities and Exchange Commission today charged two global tobacco companies with violations of the Foreign Corrupt Practices Act (FCPA) for paying more bribes to government officials in in Malawi and other countries to illicitly obtain tobacco sales contracts.  Between 2002 and 2003, Universal subsidiaries paid a total of $850,000 to high-ranking Malawian government officials that were not accurately recorded in Universal's books and records. TO READ MORE CLICK HERE