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Halliburton reportedly agrees to pay Nigeria $250 million to drop bribery charges against Cheney, firm
The massive industrial conglomerate Halliburton has reportedly offered to pay $250 million to settle charges against its former chief executive, ex-Vice President Dick Cheney, in a multi-million dollar bribery case.
Nigeria filed charges against Cheney this week in an investigation of alleged bribery estimated at $180 million. Prosecutors named both Halliburton and KBR in the charges, as well as three European oil and engineering companies -- Technip SA, EniSpa, and Saipem Construction. Eleven Halliburton officials were arrested last month and freed on bail Nov. 29.
In the United States, KBR has already admitted bribing Nigerian officials. In February 2009, the company agreed to pay a $402 million fine. Halliburton itself paid $177 million to settle allegations paid to the US Securities and Exchange Commission (SEC), but didn't admit wrongdoing. Still, despite the settlements, Halliburton's spokeswoman said “there is no legal basis for the charges” in a statement Dec. 8.
Nigeria's Economic and Financial Crimes Commission spokesman Femi Babafemi told Reuters the company had offered to pay up to $250 million.
"They have made offers of fines to be paid in penalties. They offered to pay $120 million in addition to the repatriation of $130 million trapped in Switzerland," Babafemi said.
No links?
this will trigger a new wave of nigerian scam mails.
DEAR SIR OR MADAM,
MY NAME IS DICK CHENEY. I AM IN DESPRATE NEDE. THE GOVERNMENT OF NIGERIA IN LAGOS IS TRYING TO TAKE 250 OF MY MILLIONS USD ($250,000,000). pLEASE TO BE PROVIDING A SAFE PLAYCE FOR MY FUNDS, AND I WILL REMITT TO YOU THE SUM OF $3,000,000 USD.
IN THE FAITH OF OUR LORD,
BARRISTER RICHARD CHENNEY
So provide us a link to that arrest warrant for Cheney from Interpol? Can't find one? So you start another thread. Figures. Where is the main stream press reports. None for the supposed arrest warrant and none for this agreement to pay fines.
By the way? Companies agree to pay fines and bribes because it is cost effective. Cheaper then the alternative. Even Governments do it.
It's interesting how we place Western values on non-Western countries. What we call corruption, they see as 'doing business'. Perhaps we should learn that not everyone sees things the way we do. Just an idea.
It's interesting how we place Western values on non-Western countries. What we call corruption, they see as 'doing business'. Perhaps we should learn that not everyone sees things the way we do. Just an idea.
Instead of trying to lecture about what we should or should not do, perhaps you can point out where I or anybody else in the thread was specifically talking about corruption?
Haliburton spokeswoman says there is no legal basis for the charges yet they're willing to write a $250 million check to make this all go away. That makes absolutely no sense.
It's interesting how we place Western values on non-Western countries. What we call corruption, they see as 'doing business'. Perhaps we should learn that not everyone sees things the way we do. Just an idea.
Perhaps you can point out where I or anybody else in the thread was specifically talking about corruption?
Haliburton spokeswoman says there is no legal basis for the charges yet they're willing to write a $250 million check to make this all go away. That makes absolutely no sense.
See RGS' post. It is, in many cases, cheaper to settle than defend yourself.
See RGS' post. It is, in many cases, cheaper to settle than defend yourself.
Sure, but how much do you think they would pay if they were to defend themselves and lost? I mean, it's not like they would rack up $250 million in lawyer fees if they won. If they have no legal basis for these charges, then they should have no problem with going forward and fighting this.
Ya cause after all Nigeria is a Beacon of honesty and law. The Government is corrupt as hell, what makes you think the Courts are not JUST as corrupt? Further how many high ranking employees had to be bailed out?
Companies pay bean counters to determine what is cost effective. Obviously the bean counters for this Company have determined it is safer, cheaper and wiser to pay bribes , err I mean fines then risk a corrupt Government and its corrupt courts.
So provide us a link to that arrest warrant for Cheney from Interpol? Can't find one? So you start another thread. Figures. Where is the main stream press reports. None for the supposed arrest warrant and none for this agreement to pay fines.
By the way? Companies agree to pay fines and bribes because it is cost effective. Cheaper then the alternative. Even Governments do it.
Ya cause after all Nigeria is a Beacon of honesty and law. The Government is corrupt as hell, what makes you think the Courts are not JUST as corrupt? Further how many high ranking employees had to be bailed out?
Companies pay bean counters to determine what is cost effective. Obviously the bean counters for this Company have determined it is safer, cheaper and wiser to pay bribes , err I mean fines then risk a corrupt Government and its corrupt courts.
That could be very well be the case here. However, just because the Nigeria Government may be corrupt as hell doesn't mean that Haliburton is innocent here. I'm sure they have money set aside just for cases like these.
