Beam Suntory Inc.: Bribery Scheme in India (2020)
Beam Suntory Inc. is a Chicago-based distillery that is known for making the popular Jim Beam bourbon and Maker’s Mark bourbon. In the third quarter of 2006, they expanded their market overseas to India. However, they did this through illegal methods that violated the Foreign Corrupt Practices Act of 1977 (FCPA). According to the federal complaint, Beam Suntory Inc. was charged with conspiracy to violate the anti-bribery provisions, the internal controls provisions, and the books and records provisions of the FCPA between the time they acquired business in India in 2006 through the third quarter of 2012. During this time frame, Beam payed bribes to multiple Indian government officials, failed to implement and maintain an adequate system of internal accounting, and maintained false accounting records. Because of the illegal practices in India, Beam Suntory Inc. is paying about $19.6 million to settle the federal criminal charges. This comes 2 years after the company agreed to pay $8 mil...