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Ex Halliburton Exec Pleads Guilty to $180M Bribery

Cheney man 'won' $6B Nigerian contracts

By Rob Quinn, Newser Staff

Posted Sep 4, 2008 4:04 AM CDT

(Newser) – 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.

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KBR's headquarters looms over downtown Houston. (AP Photo/Pat Sullivan)

Prosecutors charged that former KBC chief Jack Stanley paid millions to officials to secure construction projects related to a liquefied natural gas plant at Bonny Island, Nigeria, (AP Photo/George Osodi, File)

Vice President Dick Cheney acknowledges the crowd last month at the 90th American Legion National Convention in Phoenix. (AP Photo/Matt York)

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Today's plea demonstrates that corporate executives who bribe foreign government officials in return for lucrative business deals can expect to face prosecution. - Assistant Attorney General Matthew Friedrich

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Ex Halliburton Exec Pleads Guilty to $180M Bribery