posted on Aug, 3 2004 @ 02:31 PM
Halliburton has agreed to pay $7.5 million to the SEC to settle a probe which centered on bookkeeping changes made 1998-2001. Halliburton did not
admit or deny wrongdoing in the settlement. Vice President Dick Cheney, the former Chief Executive at Halliburton provided sworn testimony and
cooperated with the investigation the SEC said. The company is still under investigation in other criminal probes.
Aug. 3 (Bloomberg) -- Halliburton Co., the defense and oilfield contractor formerly headed by U.S. Vice President Dick Cheney, agreed to pay $7.5
million to settle a Securities and Exchange Commission probe of the company's accounting during his tenure.
The company, the largest U.S. contractor in Iraq, failed in 1998 to disclose a change in the way it accounted for revenue from some construction work,
the SEC said in a statement. Houston- based Halliburton, which neither admitted nor denied wrongdoing, said in a separate statement that it won't need
to restate financial reports from the periods in question.
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The other probes include current operations in Iraq and Iran along with an investigaton for alleged bribes in Nigeria to help Halliburton win
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