SEC opens formal investigation of Halliburton bribery scandal
11 June 2004
HOUSTON, June 11 (HalliburtonWatch.org) -- The U.S. Securities and Exchange Commission opened a formal investigation of Halliburton's involvement in a $180 million bribe paid to officials of the government of Nigeria. U.S. Vice President Richard Cheney was CEO of Halliburton at the time the alleged bribe took place. Halliburton's Kellogg Brown and Root (KBR) division and three other partner firms allegedly paid the bribe to obtain a contract to build a $4 billion natural gas plant in Nigeria's southern delta region. The contract was awarded to the partnership, known as TSKJ, and construction of the plant was completed in the 1990s. The partnership firms involved in the bribery scandal are Halliburton, Technip of France, ENI of Italy, and Japan Gasoline. Each of the firms owns a 25 percent interest in the natural gas plant. All firms in the partnership are being investigated. The Nigerian government ordered its own investigation in February 2004. The governments of France and Britain, as well as the U.S. Justice Department, have been conducting investigations for over a year. Bribery of foreign governments by U.S. corporations is illegal under the U.S. Foreign Corrupt Practices Act.