Halliburton is subpoenaed over Iran ties
A grand jury subpoenas info about its Cayman Islands unit, which has operations in Iran.
July 19, 2004: 5:41 PM EDT
HOUSTON (Reuters) - Oil field services company Halliburton Co. received a grand jury subpoena earlier this month seeking information about its Cayman Islands unit, which conducts operations in Iran, the company said Monday.
"In July 2004, Halliburton received from an Assistant U.S. Attorney for the Southern District of Texas a grand jury subpoena requesting the production of documents. We intend to cooperate with the government's investigation," Halliburton said in a filing to the U.S. Securities and Exchange Commission.
Halliburton (HAL: Research, Estimates), formerly headed by Vice President Dick Cheney, has been cooperating since 2001 with the U.S. Treasury Department's Office of Foreign Assets Control in an inquiry into the Cayman Islands unit's operations inside Iran.
U.S. companies are prohibited by law from doing business with Iran.
Halliburton's engineering and construction unit KBR, formerly called Kellogg Brown & Root, is also the subject of U.S. Justice Department and SEC investigations for possible overcharges for fuel and food service contracts in Iraq, where it is the largest contractor.
Halliburton officials said the company would comply with the subpoena and reiterated that the company's links to Iran through its Cayman Islands unit were in compliance with applicable laws and regulations.
"It is important to understand, especially in the current political environment, that this is not a condemnation of the company but a method of further studying the facts. We welcome a thorough review of any and all of the company's business," Halliburton spokeswoman Wendy Hall said in an e-mail.
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Let's see, out of the Axis of Evil, cheney and Halliburton have done business with two out of three so far - Iraq and Iran.
A grand jury subpoenas info about its Cayman Islands unit, which has operations in Iran.
July 19, 2004: 5:41 PM EDT
HOUSTON (Reuters) - Oil field services company Halliburton Co. received a grand jury subpoena earlier this month seeking information about its Cayman Islands unit, which conducts operations in Iran, the company said Monday.
"In July 2004, Halliburton received from an Assistant U.S. Attorney for the Southern District of Texas a grand jury subpoena requesting the production of documents. We intend to cooperate with the government's investigation," Halliburton said in a filing to the U.S. Securities and Exchange Commission.
Halliburton (HAL: Research, Estimates), formerly headed by Vice President Dick Cheney, has been cooperating since 2001 with the U.S. Treasury Department's Office of Foreign Assets Control in an inquiry into the Cayman Islands unit's operations inside Iran.
U.S. companies are prohibited by law from doing business with Iran.
Halliburton's engineering and construction unit KBR, formerly called Kellogg Brown & Root, is also the subject of U.S. Justice Department and SEC investigations for possible overcharges for fuel and food service contracts in Iraq, where it is the largest contractor.
Halliburton officials said the company would comply with the subpoena and reiterated that the company's links to Iran through its Cayman Islands unit were in compliance with applicable laws and regulations.
"It is important to understand, especially in the current political environment, that this is not a condemnation of the company but a method of further studying the facts. We welcome a thorough review of any and all of the company's business," Halliburton spokeswoman Wendy Hall said in an e-mail.
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Let's see, out of the Axis of Evil, cheney and Halliburton have done business with two out of three so far - Iraq and Iran.
