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Halliburton To Pay $29.2 Million Settlement Over US Charges Tied To Angola

Halliburton Co. (NYSE: HAL) will pay $29.2 million to settle civil charges it violated federal anti-bribery rules related to books, record-keeping and internal accounting controls while doing business in Angola, U.S. regulators said July 27.

The Securities and Exchange Commission (SEC) said Halliburton’s former vice president, Jeannot Lorenz, separately agreed to pay a $75,000 penalty in connection with the alleged violations of the Foreign Corrupt Practices Act (FCPA).

Both the company and Lorenz are settling the case without admitting or denying the allegations.

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