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[casi] Halliburton bribes disclosed

Halliburton Says Gave Bribes in Nigeria

Filed at 1:04 p.m. ET

NEW YORK (Reuters) - Halliburton Co. (HAL.N), the world's No. 2 oilfield
services company, said in a regulatory filing on Thursday that it has
disclosed to the U.S. Securities and Exchange Commission that it made about
$2.4 million in improper payments in Nigeria.

The Houston-based company, once run by Vice President Dick Cheney, said it
discovered during an audit that one of its foreign subsidiaries operating in
Nigeria paid $2.4 million to an entity owned by a Nigerian national in order
to get favorable tax treatment.

The individual pretended to be a tax consultant though he worked for a local
tax authority, the company said in the filing.

Halliburton said the payments 'clearly violated' its code of conduct and
internal control procedures and added that it is cooperating with the SEC in
its review of the situation. It may also have to pay as much as an
additional $5 million in taxes in Nigeria.

The company, which said none of its senior officers were involved, has
conducted an investigation into the situation and fired 'several' employees
based on the investigation's findings.


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