Oilfield services company Halliburton is in negotiations with the Nigerian government to keep its former CEO, Dick Cheney, out of prison, according to a news report.
Sources inside Nigeria's Economic and Financial Crimes Commission told GlobalPost this week that a settlement keeping the charges against Cheney out of court could cost as much as $500 million.
Nigeria filed charges against Cheney this week in an investigation of alleged bribery estimated at $180 million. Prosecutors named both Halliburton and KBR in the charges, as well as three European oil and engineering companies -- Technip SA, EniSpa, and Saipem Construction.
The charges allege that engineering contractor KBR, until 2007 a subsidiary of Halliburton, was among companies that paid bribes to secure a $6 billion contract for a natural gas plant. KBR pleaded guilty to the same bribes in a US court in 2009, and agreed to pay a $382 million fine. The Nigerian charges appear to stem from the US case -- though, in that trial, Cheney was never directly charged.'