Halliburton Pays $7.5M Fine for Cheney-related Activities

From Holden:

Enron-style accounting practices under CEO Dick Cheney result in $7.5 million settlement with the SEC:

Halliburton Co. will pay $7.5 million to settle charges that it failed to disclose a 1998 accounting change at a time when Vice President Dick Cheney headed the company, authorities said Tuesday.

The U.S. Securities and Exchange Commission did not charge Cheney, but brought charges against the Houston-based oil services company, former Chief Financial Officer Gary Morris and former Controller Robert Muchmore.

The SEC said its action focused on Halliburton’s failure to disclose a 1998 change in accounting practices that caused its profit statement for that year and 1999 to be misleading.