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The charge stems from a 1998 change in Halliburton accounting policy which inflated the company’s profits by US$210 million over an 18-month period.
In a statement the SEC said, “Mr Cheney has not been charged [and has] cooperated willingly with the investigation.”
“The SEC [has] also censured Halliburton for obstructing [our] investigation. [We have] settled with former [Halliburton] controller Robert Muchmore Jr, who is paying a US$50,000 penalty and [are] pursuing enforcement action against former chief financial officer Gary Morris,” it added.
According to Halliburton chairman David Lesar, “We are pleased to bring closure to this matter.” He did not elaborate further.
