Latin America

Ralph Lauren Admits to Bribery in Argentina

Will pay $1.6 million (which is apparently a fine, not another bribe)

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Ralph Lauren Corp. has agreed to pay $1.6 million after finding that its subsidiary in Argentina repeatedly bribed customs officials, federal authorities announced Monday.

The clothing label will pay an $882,000 penalty as part of a non-prosecution agreement with the Justice Department, and will give up roughly $735,000 in illicit profits and interest as part of a non-prosecution agreement with the Securities and Exchange Commission.

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