The Springfield gun maker Smith & Wesson Holding Corp. has agreed to pay $2 million to settle civil charges by federal regulators that it bribed foreign officials to sell firearms in other countries.
The Securities and Exchange Commission on Monday said Smith & Wesson violated the Foreign Corrupt Practices Act by making improper payments as it sought to sell guns overseas to police and military groups from 2007 to 2010.
In 2008, the SEC said, the gun maker hired a third-party agent in Pakistan to help win a sale with a Pakistani police department. Smith & Wesson officials authorized the agent to provide more than $11,000 worth of guns to Pakistani police officials as gifts and to make additional cash payments to them.
More at the link. I suspect that bribes are SOP for most businesses trying to sell their products in unstable or corrupt countries.
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