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05/09/2003 Archived Entry: "Halliburton continues its tradition of ethical business practices"
Halliburton continues its tradition of ethical business practices
There is a special circle of Hell that is being reserved for Halliburton and KBR executives. They really must believe they can do whatever they want.
Oil services giant Halliburton, already under fire over accusations that its White house ties helped win a major Iraqi oil contract, has admitted that a subsidiary paid a multi-million dollar bribe to a Nigerian tax official.
Halliburton, once run by Vice President Richard Cheney, revealed the illicit payments, worth 2.4 million dollars, in a filing Thursday with the Securities and Exchange Commission (SEC). "The payments were made to obtain favorable tax treatment and clearly violated our code of business conduct and our internal control procedures," Halliburton said.
Halliburton subsidiary Kellogg Brown and Root (KBR), which paid the bribe, has been in the political spotlight since it was awarded a no-bid US government oil contract in Iraq in March.
