Thursday, October 23, 2008

Halliburton says gov't has bid-rigging evidence-filing


Tue Oct 21, 2008 6:02pm EDT
HOUSTON, Oct 21 (Reuters) - The U.S. Department of Justice has evidence that Albert "Jack" Stanley, former head of Halliburton Co's (HAL.N: Quote, Profile, Research, Stock Buzz) KBR Inc (KBR.N: Quote, Profile, Research, Stock Buzz) unit and others may have possibly engaged in bid-rigging on foreign construction contracts, Halliburton said in a regulatory filing on Tuesday.
"In September 2008, the DOJ informed Halliburton and KBR that Mr. Stanley admitted to bid-rigging, claimed that others knew about it, and stated that the DOJ feels it has a viable wire fraud case based on bid-rigging," Halliburton said in quarterly filing with the U.S. Securities and Exchange Commission.
Stanley, a former KBR chief executive officer, pleaded guilty in September to charges involving a scheme to pay $180 million in bribes to Nigerian government officials to win work on the $6 billion Bonny Island liquefied natural gas (LNG) plant....