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SEC Fines Halliburton $30 Million For Bribery

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Securities and Exchange Commission
/
United States Government
The Securities and Exchange Headquarters Building in Washington, D.C.

The Securites and Exchange Commission fined Halliburton $30 million for bribing a foreign official for an oil servicing contract. It’s the first bribery case the SEC has pursued since the start of the Trump administration.

A whistleblower claimed that Halliburton bribed an Angolan official for $14 million worth of oil business. The company settled without admission.

Southern Illinois University Law Professor Mike Koehler, who specializes in the Foreign Corrupt Practices Act, or FCPA, calls this fine a garden variety Obama-era action.

“2016 was a record year for FCPA enforcement, so I think that the jury is really out to what enforcement will look like going forward.”

In 2012 businessman Donald Trump called the anti-bribery law "horrible" and said it put American companies at a competitive disadvantage. Earlier this year President Trump eliminated a rule that required companies to disclose when they make payments to foreign officials. 

Charles is senior reporter focusing on special projects. He has won numerous awards including an IRE award, three SPJ Public Service Awards, and a National Murrow. He was also a finalist for the Livingston Award for Young Journalists and Third Coast Director’s Choice Award.