MercoPress. South Atlantic News Agency
Ralph Lauren fined in the US for briberies committed by Argentine subsidiary
Ralph Lauren Corp. has agreed to pay 1.6 million dollars to the US Securities and Exchange Commission, SEC, after finding that its subsidiary in Argentina repeatedly bribed customs officials, federal authorities announced Monday. Read full article
Comments
Disclaimer & comment rulesMercopress, think you may have got this wrong... No Argentine official would accept a bribe. Surely?
Apr 23rd, 2013 - 07:29 am - Link - Report abuse 0lol, US makes money off Argentina's ineptitude and corruption......LOVE IT, “twisting” myself laughing
Apr 23rd, 2013 - 08:13 am - Link - Report abuse 0And they wonder why all the Int'l retail stores are leaving or have left,
Apr 23rd, 2013 - 10:02 am - Link - Report abuse 0Their stupidity is astounding.
The more this stuff comes out I hope this next crisis is massive and people actually starve, freeze and die so maybe they'll learn they need a legitimate gov't running the country and not a kleptocracy over and over again.
They obviously need something really drastic and horrible to happen so they remember.
Well this shows how corrupts US companies are by paying bribes to don’t follow the law.
Apr 23rd, 2013 - 12:46 pm - Link - Report abuse 0And also how bad administrated they are that then have no idea that they have a hole of U$s 500k by bribes and pass unreported.
Its not the same type of declaration that Americans corrupts bankers in US make when they are found with 2bn dollars from drugs cartels in one hand and 50kg of cocaine in the other?
I don’t know sir, cocaine?, money laundry? where?
Corrupts and idiots.
They HAD to pay just like everyone else does in that filthy country to keep their business afloat.
Apr 23rd, 2013 - 12:49 pm - Link - Report abuse 0But they're gone never to return so nothing to worry about now
except for the stupid Rgs that let the system survive.
Bribery is the standardized way of life in argentina, even argentines know that.
Apr 23rd, 2013 - 01:11 pm - Link - Report abuse 0Yep, I paid a lot of times to get “expedited” services. I liked it when I first moved there but after awhile having to pay to get your electricity turned back on after a storm, or anything to do with customs or property or or or or got really old.
Apr 23rd, 2013 - 01:51 pm - Link - Report abuse 0It is the reason the country has failed and will only get worse generation after generation.
“”“”Well this shows how corrupts US companies are by paying bribes to don’t follow the law.“”“”
Apr 23rd, 2013 - 02:31 pm - Link - Report abuse 0“”“”“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.“”“””
reading the article often helps with understanding the issue.
LOL, Polo is gangsta clothes in the US. If the US wants to investigate briberies, I suggest they keep an eye on Blackwater.
Apr 23rd, 2013 - 02:42 pm - Link - Report abuse 0Massive inflation, high prices, corruption, ineptitude, lack of competitiveness = the Brazilian and Argentine way since 1960
Apr 23rd, 2013 - 03:35 pm - Link - Report abuse 0high inflation and high prices with low income = hell on earth
Argentina and Brazil are literally more expensive than USA nowadays. I was flabbergasted by the prices when I was in Brazil/Argentina in 2012. NO WONDER SO MANY OF YOUR KIND GO TO USA TO BUY ELECTRONICS AND SUCH TO TAKE BACK. NO WONDER SO MANY OF YOUR KIND TRY TO ESCAPE THE PERPETUAL POVERTY AND HOPELESSNESS OF YOUR COUNTRY BY TRYING TO IMMIGRATE TO USA.
#10 the electronics are outright obscene in Argentina. When I was there in Feb, a 42 TV was like 11,000 pesos. Convert that to dollars and that is around $2,123 and in the USA a 42 TV is less than $500
Apr 23rd, 2013 - 05:07 pm - Link - Report abuse 0#11 Yea, all manufactured goods there were several times the price as USA, or just impossible to find altogether. Heck, even Chile right next door was MUCH cheaper for camping supplies. Bariloche residents always go next door to Santiago to buy their trekking gear.
Apr 23rd, 2013 - 05:53 pm - Link - Report abuse 0Price of food in Argentina is insane too. To eat out in Argentina costs anywhere from 2 to 4 times the price as USA. Brazil's pretty much the same story.
Even cloths....when my wife's family visitis us in the USA, the pack light. The go on crazy shopping sprees, ezpecially cloths and buy another suitcase to return with.....lol.
Apr 23rd, 2013 - 06:15 pm - Link - Report abuse 0With the exchange rate I always thought eating in BsAs was relatively inexpensive but comparatively expensive.
13. Thank goodness Moreno came out with Ropa Para Todos
Apr 23rd, 2013 - 07:53 pm - Link - Report abuse 0For $100 pesos you can have either sky blue pants or skirt, a white oxford shirt and a jaunty yellow kerchief.
Such fools...
The sad part is I think they really believe this is helping people
sad sad deluded fools
Ralph Lauren Corp. has agreed to pay 1.6 million dollars for bribing argie officials! AND that's a lax fine for the main company coming clean!
Apr 23rd, 2013 - 08:01 pm - Link - Report abuse 0I can't believe it, who would have thought it? Ha, ha, ha, ha.
It does make you wonder though how anyone with a brain at Ralph Lauren Corp. thought it a good idea to deal with the likes of the argies: they must have known what a bunch of crooks they are.
Dunny Burger
They didn't have a hole in the accounts; the argie employees raised fake invoices to cover the kick-backs which probably involved the local 'auditors' who should have blown the whistle on them, as well!
Good grief, what a fcuking country.
Quote: bribed customs officials “to improperly obtain paperwork necessary for goods to clear customs; permit clearance of items without the necessary paperwork and/or the clearance of prohibited items; and on occasion, to avoid inspection entirely,”
Apr 23rd, 2013 - 09:20 pm - Link - Report abuse 0How can a business or individual in Argentina survive WITHOUT doing this? EVERYONE I know there does it and sadly RL didn't hide it's paper trail well enough.
The only way business is done in rgland, especically when it comes to imports........geez, they hate those imports.
Apr 23rd, 2013 - 09:26 pm - Link - Report abuse 0Stupid Rgs are trying to PUBLICLY deny bribes were paid and want proof from the SEC.
Apr 24th, 2013 - 12:24 pm - Link - Report abuse 0This fake righteous indignation is hilarious.
They're so dumb
LOL, sounds like Yankeegirl and Captain Poopy are lovers!
Apr 24th, 2013 - 01:29 pm - Link - Report abuse 0@yankeeboy
Apr 24th, 2013 - 01:52 pm - Link - Report abuse 0That is the typical reply from corrupts and thief...
Oh I have to steal because anybody does...
BS
Well may be sending home all American Business will help to reduce bribes after all seems they pay bribes and practice money laundry all over the world.
Corruption is like inflation if you don’t pay never rise...
Oh! this is really good
“Yep, I paid a lot of times to get “expedited” services. I liked it when I first moved there but after awhile having to pay to get your electricity turned back on”
Well if you not pay the bill what do you expect.
And if you paid the bill and someone charged you it is because you look so stupid, think that we already know since long time ago.
@ Captain Poppy & mastershakejb
It is Argentinean fault that you are poor?
I guess not.
If you don’t have the money to move around you should stay at home or go to cheap places according with your economic status. Lets say poor and surviving in USA as you can or Pre food stamp clients.
I guess you mates cannot afford a burrito en Tijuana even if it is free. Am I right?
20. You had better hope that the USA companies stay in Argentina. We control over 10% of your GDP. You'd never recover if we pulled out.
Apr 24th, 2013 - 04:41 pm - Link - Report abuse 0My guess Ford and GM will have to leave rather quickly if IMF throws you out.
That would be funny
100s of Thousands of factory workers truck drivers, suppliers all out of jobs in a matter of a month,
I would twist myself laughing
21 yankeeboy
Apr 24th, 2013 - 04:45 pm - Link - Report abuse 0There is clearly a real chance of that happening.
But WHO do you reckon would get the blame.
Ha, ha, ha.
@YankeeBobo
Apr 25th, 2013 - 01:37 pm - Link - Report abuse 0Don't worry sure argies will make cars Nestor K brand or better off “El pinguino car”
I can just imagine the ads says
Do you need a brand new car?
(c)Pinguino K 0Km
...and you will never need N.A.F.T.A.
Ha ha ha ha ha poor and idiot is not too much boy?
Yeah OK
Apr 25th, 2013 - 03:19 pm - Link - Report abuse 0how?
I love when dumburger gets on here..........better than a great comedy.
Apr 25th, 2013 - 03:23 pm - Link - Report abuse 0Commenting for this story is now closed.
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