Smith & Wesson to Pay $2 Million to Settle Corruption Charges

By: | August 17th, 2014

Image courtesy Wikimedia Commons

The Securities and Exchange Commission claims employees and representatives of gun maker giant Smith & Wesson, “authorized and made improper payments to foreign officials while trying to win contracts to supply firearm products to military and law enforcement overseas,” therefore violating the Foreign Corrupt Practices Act.

Specifically, Smith & Wesson employees took part in making improper payments to nail down a weapons contract in Pakistan and also attempted to do the same thing in Turkey, Nepal, Indonesia, and Bangladesh, all of which failed.

While Smith & Wesson didn’t exactly admit to any wrongdoings, the company did agree to pay $2 million to settle the corruption charges.

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