Halliburton tries to limit fall-out from investigations

[ze_dscherman]

Last April, at an otherwise sleepy conference in Paris to discuss new anti-bribery laws, a Nigerian delegate caused a minor sensation by standing up and berating a US official in the audience.

Everyone in Africa, he said, knew that US authorities would never seriously investigate allegations that Halliburton had been involved in a massive bribery scheme in Nigeria. After all, the company was headed from 1995 to 2000 by Dick Cheney, US vice-president.

According to people present, Peter Clark, the US Department of Justice official who handles such cases, boomed in reply: "If you think for a moment that we would shy away from a case for political reasons, you would be sorely mistaken."

Seven weeks later, the oil services company announced that the Securities and Exchange Commission had launched a formal investigation into the charges, giving the politically sensitive case new momentum ahead of the US presidential elections in November.

Much more, with details:
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1087373187828&p=1012571727102

[Hekate]

1. A big ol' Schadenfreude Shout-Out to Dick Cheney!

from further along in the same article:

> "Halliburton wasn't involved in this," said a Halliburton spokesperson. "This was all put together well before we acquired Dresser."
> According to lawyers familiar with the relevant US statutes, however, that may not be a complete defence. Under US law, companies become responsible for any regulatory issues of companies they acquire. And TSKJ continued to win contracts to extend the project until 2002, using Mr Tesler as an agent.
> Furthermore, the Foreign Corrupt Practices Act (FCPA) penalises any company officers who "knew or should have known" that bribes were paid. Mr Cheney was personally involved in the acquisition of Dresser, raising the question whether the due diligence conducted during the acquisition should have brought any impropriety to light, lawyers say.

We owe a debt of gratitude to the Nigerian and the French judge, as well as to Peter Clark, the DOJ official who is making good on his statement that "we" wouldn't let politics interfere with a case like this. Could Clark be a career civil servant and not a neocon appointee? Hmmm?
A few more tidbits from the article:

> The penalties for violating the FCPA are severe. Lockheed was fined a total of $25m in 1995 for paying $1m to an Egyptian politician. The alleged payments in TSKJ's case could reach $180m.
> Furthermore, company executives can face five years' jail for each instance of bribery, even if they did not know it was occurring. Companies can be also barred from bidding for government contracts - an important component of Halliburton's business around the world.

It may never happen, but how sweet it is to contemplate Halliburton and Cheney, together again at last...in a court of law.

Hekate

[Old and In the Way]

2. While they are at it, Cheney ought to explain why trading with Iraq

in 1998 isn't a treasonous act. That was in direct violation of the embargo and he circumvented that by selling equipment to Hussein through European subsidiaries. Trading with the Enemey should be a capital offense, no?

[struggle4progress]

3. kick for crooked Cheney