FedEx accused of corruption

Investor's Business Daily

The delivery service faces federal money-laundering charges and a $1.6 bil fine after prosecutors alleged that the firm was paid with illegally obtained money to transport controlled substances from unlicensed Internet pharmacies. FedEx (FDX) said it would plead not guilty and the law-enforcement agencies' demands would violate customers' privacy. Shares fell 0.6% to 148.72 .

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