The former chief executive of security contractor KBR has pleaded guilty to charges of bribing foreign officials. Albert Stanley paid Nigerian officials $182 million and in return, received contracts to build a $6 billion liquefied natural gas complex. Stanley faces a prison term of up to 7 years, and the SEC is considering an additional civil action against the firm. KBR is a former subsidiary of Hallburton. (New York Times)
http://www.nytimes.com/2008/09/04/business...amp;oref=slogin
Former KBR Executive Pleads Guilty to Bribery
By CLIFFORD KRAUSS
Published: September 3, 2008
HOUSTON — Albert J. Stanley, a former executive with a Halliburton subsidiary, pleaded guilty on Wednesday to charges that he conspired to pay $182 million in bribes to Nigerian officials in return for contracts to build a $6 billion liquefied natural gas complex.
Mr. Stanley, 65, had been chief executive of KBR, Halliburton’s large engineering and construction unit, until December 2003. Halliburton cut off all ties with him in 2004 after he was accused of secretly enriching himself by as much as $5 million in the payment and kickback scheme. KBR was spun off from Halliburton last year.
Some of the payments were made while Vice President Dick Cheney was Halliburton’s chief executive, but neither he nor Halliburton has been accused of being part of the scheme.
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Nay - He didn't know anything?