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Ralph Lauren to Pay Fines for Bribing Custom Officials in Argentina

Posted: Apr. 22nd, 2013  |  By DailyLuxe News

High fashion brand Ralph Lauren has agreed to pay $1.6 million not to be prosecuted and to forego illicit profits obtained through bribing custom officials in Argentina, CNN reports.

The transgression occurred between 2004 and 2009 and involves around $580,000 in payoffs. The SEC and the Justice Department both praised the fashion house for its forthright demeanor in handling this situation.

"There was no evidence that the improper activity in Argentina was known or authorized by anyone outside of Argentina or that similar practices were occurring at other foreign operations," the statement said.

Read More on money.cnn.com
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