Halliburton to pay $559M over KBR

Haliburton has agreed to pay the U.S. government $559 million to settle corruption charges associated with its former subsidiary KBR Inc., reports the Washington Post.

Haliburton said Jan. 26 that it will pay $382 million on behalf of KBR over the next two years to the Justice Department and will pay another $177 million to the Securities and Exchange Commission.

The company said it has negotiated its deal with the Justice Department but is awaiting official approval from the government. Haliburton’s payment to the SEC has been approved contingent on its settlement with the Justice Department.

Haliburton has since spun off KBR, which was one of the largest contractors doing business in Iraq and Afghanistan.