Halliburton audit finds possible problems

[RamboLiberal]

http://www.chron.com/cs/CDA/ssistory.mpl/front/2367347

At least one, perhaps two former Halliburton Co. employees may have accepted improper payments from a Kuwaiti subcontractor providing support for the U.S. military, as part of an alleged scheme to overcharge the Pentagon by some $6 million.

Auditors at the Houston-based firm discovered the potential overbilling and questionable payments and alerted the Pentagon's inspector general, company officials said late Thursday.

"Halliburton internal auditors found the irregularity, which is a violation of our company's philosophy, policy and our code of ethics," Halliburton spokeswoman Wendy Hall said. "We found it quickly, and we immediately reported it to the inspector general.

"We do not tolerate this kind of behavior by anyone at any level in any Halliburton company," Hall said.

[burrowowl]

1. Nooooo!

I'm shocked.

"We do not tolerate this kind of behavior by anyone at any level in any Halliburton company," Hall said.

B$!

[fizzana]

3. Correction

We only tolerate that sort of behavior at the top levels of Halliburton.

[Bob3]

6. unless dick gets his cut.

N/T

[librechik]

2. look over ther at that kid spray pinting grafitti!

meanwhile, the big payoff happens behind everybody's back.

[Pale Blue Dot]

4. "possible"? nt

[UpInArms]

5. Cheney accused of corporate fraud

Wednesday, 10 July, 2002, 22:22 GMT 23:22 UK

http://news.bbc.co.uk/1/hi/world/americas/2119981.stm

A US pressure group has filed a lawsuit against Vice-President Dick Cheney, accusing him of defrauding shareholders in a company he used to run.

Judicial Watch, based in Washington DC, says Mr Cheney artificially boosted the share price of the Halliburton energy company during the time he was chief executive in the 1990s.

<snip>

Judicial Watch alleges that Halliburton overstated profits to the tune of $445m during the period 1999 to 2001, resulting in some investors "suffering huge losses".

<snip>

In a short section of the video, Mr Cheney says: "I get good advice, if you will, from their people, based upon how we are doing business and how we are operating, over and above the normal, by-the-books auditing arrangement."

Last month, Andersen was convicted of obstructing justice by shredding documents relating to the failed US energy giant Enron.

...more...

Seems a bit hypocritical when comparing the BBC article to the statement "We do not tolerate this kind of behavior by anyone at any level in any Halliburton company," Hall said.

[LeftHander]

7. HAL Stock $9 8/2002 $28 1/2004

Halliburton stock climbing steady on the deaths of 500 U.S. Soldiers.

The more that die the better HAL does.

Obligitory post.