Sunday, March 27, 2011

SEC Charges Tyson Foods with FCPA Violations

Feb 10, 2011- Tyson Foods was charged with violation the Foreign Corrupt Practices Act because it's operations in Mexico bribed veternarians to certify chickens to be fit for export.  First, the wives of the vets were put on payroll for doing nothing, then the vets were allowed to pad billing. Internal controls of the company took two years to catch up to the fraudulent practice.
While the SEC isn't the FDA, one must wonder....what about the chicken?  Where the chickens fit or not? 
This is an example of the "follow the money" cliche'.  The implications of fraud extend beyond the boundaries of accounting even into public health and safety.

http://www.sec.gov/news/press/2011/2011-42.htm

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