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Ex Halliburton Exec Pleads Guilty to $180M Bribery
Cheney man 'won' $6B Nigerian contracts
By Rob Quinn
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Posted Sep 4, 08 4:04 AM CDT
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(Newser)
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A fired Halliburton exec has pleaded guilty to bribing Nigerian government officials, the Wall Street Journal reports. Albert Stanley, CEO of KBR when it was a Halliburton subsidiary, faces up to 7 years in jail and a restitution payment of nearly $11 million. Stanley was appointed by Vice President Dick Cheney, and many of the bribes occurred when Cheney still ran Halliburton.
KBR paid over $180 million to secure contracts that landed $6 billion of work for the firm, according to Stanley's plea. Halliburton spun off KBR last year but may yet be investigated. US officials said the sentence was the highest yet under the Foreign Corrupt Practices Act and warned that American companies who bribe foreign governments can expect to be prosecuted for it.