TTM to Investigate Leaf Bribery Claims

Source from:  Tobacco Reporter 08/11/2010

The Thailand Tobacco Monopoly (TTM) will be asked to explain allegations by the US that its staff accepted US$1.93 million in bribes to buy Brazilian tobacco leaf, Finance Minister, Korn Chatikavanij, said yesterday. According to a press note issued by the US Department of Justice, Dimon Inc and Standard Commercial Corp, which in 2005 merged to form Alliance One International, and Universal Brazil, a subsidiary of Universal Corp, paid kickbacks to TTM officials in order to ensure that each of the three companies would share in the Thai tobacco market. Korn said the Finance Ministry would launch an investigation into the allegation. "The investigation will be swift, transparent and straightforward," he said. Enditem