Swiss Blocks Accounts in Oil Co. Probe ( Halliburton)

[maddezmom]

GENEVA - Swiss justice authorities have blocked bank accounts containing $100 million in an investigation of an alleged bribery scandal tied to a subsidiary of Halliburton Co., the oil services company formerly headed by U.S. Vice President Dick Cheney (news - web sites).

Geneva state investigator Daniel Dumartheray confirmed a report in the daily Tribune de Geneve that the freeze was imposed after France asked Switzerland to grant judicial assistance for its investigation in the case. He declined to identify the accountholders or the banks involved.


It was unclear whether the frozen money was part of the total $180 million allegedly paid by an international consortium to win contracts for a natural gas project in Nigeria between 1995 and 2002.


The French investigation, launched in October 2003, centers on allegations that the TSKJ consortium paid illegal commissions in connection with a $4 billion contract it won in 1995 to build and expand a Nigerian liquefied natural gas plant.

more: http://story.news.yahoo.com/news?tmpl=story&cid=509&ncid=732&e=7&u=/ap/20041203/ap_on_bi_ge/switzerland_halliburton_probe

[goforit]

1. If the Americans won't prosecute Cheney......The World will!!!!

tic toc tic toc tic toc tic toc..............

[maddezmom]

3. Dresser Ind was aquired by Halliburton, involved in Oil for Food for Iraq

during Cheney's reign:

In September 1998, Halliburton closed a $7.7bn stock merger with Dresser Industries (the company that gave George HW Bush his first job). The merger made Halliburton the largest oilfield services firm in the world. It also brought with it two foreign subsidiaries that were doing business with Iraq via the controversial Oil for Food programme. The two subsidiaries, Dresser Rand and Ingersoll Dresser Pump Co, signed $73m-worth of contracts for oil production equipment.

Cheney told the press during his 2000 run for vice-president that he had a "firm policy" against doing business with Iraq. He admitted to doing business with Iran and Libya, but "Iraq's different," he said. Cheney told ABC TV: "We've not done any business in Iraq since UN sanctions were imposed on Iraq in 1990, and I had a standing policy that I wouldn't do that."

Three weeks later, Cheney was forced to admit the business ties, but claimed ignorance. He told reporters that he was not aware of Dresser's business in Iraq, and that besides, Halliburton had divested itself of both companies by 2000. In the meantime, the companies had done another $30m-worth of business in Iraq before being sold off.

The Dresser merger was, it appeared, the crowning achievement of the Cheney years at Halliburton. But Cheney left Halliburton several other legacies. David Gribbin, Cheney's former chief of staff, became Halliburton's chief lobbyist in Washington. Admiral Joe Lopez, a former commander of the sixth fleet, was hired to be KBR's governmental operations expert. Together, Cheney's team made Halliburton one of the top government contractors in the country. KBR had nearly doubled its government contracts, from $1.2bn in the five years prior to his arrival, to $2.3bn during his five years as CEO. Halliburton soared from 73rd to 18th on the Pentagon's list of top contractors.

http://www.guardian.co.uk/g2/story/0,,1266233,00.html

[cavanaghjam]

5. Halliburton also acquired

Dresser's asbestos liabilities. It'll be interesting to see if and how this administration will come up with some law retroactively capping damage awards from civil suits. Good, informative post.

[maddezmom]

7. BBC: Halliburton asbestos deal 'final' .

~snip~
Halliburton said the court's decision should enable it to bring the claims-hit Kellogg, Brown & Root subsidiary out of bankruptcy this month.

In a separate court case, an ex-KBR worker sued over alleged Iraq back pay.

~snip~
The asbestos claims are the biggest financial headache facing KBR, which inherited them from Dresser Industries when it bought that firm five years ago.

Halliburton said in September that it would consider KBR's future options - including a sell-off - once the claims were concluded.

more: http://news.bbc.co.uk/2/hi/business/4067549.stm

[cavanaghjam]

10. Thanks for the update;

that's what I get from being so disgusted. I turn off my curiosity for a while. Before I know it, I'm walking around sans clue, doing a frightfully accurate impression of what's-his-name.

[goforit]

8. Dresser sounds German......

Any connection to Nazi Germany in the 1940s?

GHWB.......What a slime ball.

He has single-handedly destroyed this country and world.
If there ever was a Satan.....he's it!!!

[lovuian]

2. Cheney's only safe haven is his bunker in Wyoming!!!

No European trip for him!!!

[zann725]

11. Or Canada!

n/t:nopity:

[VegasWolf]

4. Wonder how many swiss accounts this admin has in total? n/t

[goforit]

9. Not only Swiss..............

But try the Cayman and Cook islands.
And Bermuda as well!!!

Go France!!!

[burrowowl]

12. Don't forget

Nassau! Etc.

[AgadorSparticus]

6. man, i hope they get him but good!!!

go france!!!