Smith & Wesson pays SEC penalty after being accused of bribing

[SecularMotion]

Source: MassLive.com

Smith & Wesson, the Springfield gun manufacturer, has agreed to pay penalties to the federal Securities and Exchange Commission for bribing or attempting to bribe foreign government officials to buy Smith & Wesson guns.

The SEC announced the disciplinary action on Monday.

In 2008, Smith & Wesson allowed its agent to give more than $11,000 worth of guns to Pakistani police officials as gifts and then make additional cash payments, according to court papers provided by the SEC. Smith & Wesson ultimately won a contract to sell 548 pistols to the Pakistani police for a profit of $107,852, the SEC said.

In 2009, Smith & Wesson attempted to win a contract to sell firearms to an Indonesian police department by making improper payments to police officials through a third-party agent, according to the court documents. The money was paid under the guise of legitimate firearm lab testing costs.

Read more: http://www.masslive.com/business-news/index.ssf/2014/07/smith_wesson_pays_sec_penalty_for_making.html#incart_m-rpt-1

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Full title would not fit: Smith & Wesson pays SEC penalty after being accused of bribing, or trying to bribe, foreign governments

[hack89]

1. Most every foreign company that does business in Pakistan pays bribes

According to the Global Corruption Barometer they have one of the highest bribery rates in the world.

http://www.transparency.org/gcb2013/report

[samsingh]

2. amazing how much corruption there is

[Turbineguy]

3. When I was working there

people inside my own company wanted bribes. One guy told me it would behoove me to have him as a friend. He wanted to sit in my office and get drunk (on my booze and during working hours).

[easychoice]

5. Hey! We just did what Boeing does

only a little bit less...

Scumbags,the lot of 'em...

[Feral Child]

7. That doesn't excuse S&W, does it?

If we're to hold all businesses to the lowest common denominator, we can excuse all sorts of foulness.

ANY industry involved in this sort of corruption should be pursued and their corporate personhood should be jailed.

[hack89]

8. Who am I to judge Pakistani culture mores? nt

[Feral Child]

10. Not a matter of judging Pakistan.

It's a matter of judging S&W, and you think they should get a pass.

Not "judging" you, hack, but you're a one-trick pony.

[onehandle]

4. Shameless gun industry works as their GOP lickspittles do.

Shocker.

[mikeysnot]

6. guns and criminals

go figure...

[AngryAmish]

9. They had no chance of beat 'Bama anyway.