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« Bribery Act Guidance Released | Main | Expand The Corporate Miranda Warning »
Wednesday
Sep222010

Jack Stanley Free Until 2011

Former KBR boss Albert "Jack" Stanley, who pleaded guilty in September 2008 to a two-count criminal information charging him with conspiracy to violate the Foreign Corrupt Practices Act and to commit mail and wire fraud, will remain free on bail until at least January 19, 2011.

Stanley was due to be sentenced tomorrow. But Judge Keith P. Ellison earlier this month reset Stanley's hearing date, the eighth sentencing delay in the case. 

Stanley, 66, admitted that from 1995 to 2004, he helped a joint venture that included KBR and its predecessors funnel $182 million in bribes to government officials in Nigeria. The bribes were paid in exchange for contracts worth $6 billion to build liquefied natural gas facilities. He was sentenced to 84 months in prison and a restitution payment of $10.8 million. The jail term is subject to review based on his cooperation.

Under his plea agreement, Stanley can't ask for a reduction in his sentence based on his cooperation or the value of his testimony. But the DOJ can recommend a lighter sentence to the judge if it believes Stanley has fulfilled the conditions of his plea.

With Stanley's help, the DOJ and SEC have recovered $1.28 billion in FCPA-related penalties and disgorgement so far from the TSKJ consortium members, which KBR led when Stanley was in charge: $579 million from KBR / Halliburton, $365 million from Snamprogetti / ENI, and $338 million from Technip, with more to come from the final JV partner, JGC.

Download the September 3, 2008 plea agreement in U.S. v. Albert Jackson Stanley here.

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