A former Halliburton exec bites the dust. The ex-CEO of subsidiary Kellogg Brown & Root, Albert J. “Jack” Stanley, gets hit with a 7 year jail term and $10.8 million restitution payment.
Bloomberg: Albert Jack Stanley, a former chief executive officer of Kellogg Brown & Root, pleaded guilty to participating in a decade-long scheme to bribe Nigerian officials to win $6 billion in construction contracts.
Stanley, 65, helped arrange about $182 million in illegal payments, prosecutors said. The company, formerly a unit of Halliburton Co., was part of a joint venture building liquefied natural gas facilities in Bonny Island, Nigeria.
Along with the bribery, Stanley admitted accepting about $10.8 million in kickbacks from a consultant. Kellogg Brown & Root is now known as KBR Inc.
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