Halliburton’s Pursuit of Oil Contracts from Angolan Government Results in $29 Million FCPA Penalty

On July 27, 2017, the Securities and Exchange Commission charged the Halliburton Company and a former Halliburton Vice President and manager of business operations in Angola with violating the Foreign Corrupt Practice Act's books and records and internal accounting controls provisions as part of a scheme to secure profitable oil contracts with the Angolan state oil company. To settle the matter, Halliburton agreed to pay $14 million in disgorgement, $1.2 million in prejudgment interest, and a civil penalty of $14 million, for a total payment of $29.2 million.