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Last year, Albert Jack Stanley, the former CEO of KBR, pleaded guilty to bribery for masterminding the payment of more than $180 million to Nigerian officials. PBS Frontline correspondent Lowell Bergmen reports on the damage done by large-scale bribery in that country.
Next, another take on Western money in the developing world. International corruption has been the focus of a nine-month investigation by our PBS colleagues at Frontline. Correspondent Lowell Bergman has this special report produced for the NewsHour on the damage done by large-scale bribery in Nigeria.
LOWELL BERGMAN, correspondent, Frontline: Last September, in federal court in Houston, Texas, corporate America paid attention when this man, Albert "Jack" Stanley, pled guilty to bribery.
Jack, you don't want to say anything?
Stanley, the former CEO of KBR, then a subsidiary of the Halliburton corporation, agreed to a record seven-year prison sentence for masterminding the payment of $180 million in bribes in Nigeria.
And Mr. Stanley's been cooperating and cooperated today.
As a result, earlier this year, KBR and the Halliburton corporation agreed to pay more than $500 million in fines, the largest fine ever for international bribery by a U.S. company.
This case has opened a window into the way multinational corporations do business in corruption-plagued Nigeria.
The World Bank has reported that Nigeria has lost $300 billion over the last few decades due to corruption.
OLUSEGUN OBASANJO, Former President, Nigeria:
I will not argue with them.
Three hundred billion disappeared…
Over a period of years.
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