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A Washington, D.C.-based legal watchdog group has filed a suit against Vice President Dick Cheney on behalf of Halliburton shareholders for alleged “fraudulent accounting practices,” the group said in a statement.
Judical Watch will announce the suit, which includes other Halliburton directors and the company itself, today at a press conference.
Halliburton boasts it’s “one of the world’s largest” providers of products and services to the petroleum and energy industries. Similar to companies such as WorldCom and Enron, Halliburton now faces corporate fraud charges. The firm and its directors are accused of creating an overvaluation of the company’s shares by deceptive accounting practices.
Said Larry Klayman, chairman and general counsel of Judicial Watch, “To look the other way for the vice president would be to set a precedent that the Washington elite are above the law. This cannot be permitted if our democracy is to survive.”
Judicial Watch believes the accounting practices of Halliburton resulted in many investors and others being deceived.
The suit comes one day after President George W. Bush, who himself has been accused of insider trading when he sat on the board of Harken Energy Company, announced a plan to crack down on corporate fraud.
“Whether it is the Enron, Arthur Andersen, Global Crossing or now the Halliburton and Harken scandals, there is a dangerous intersection between politicians of all stripes, Democrat and Republican, attempting to feed at the trough of business greed,” stated Klayman in the statement. “As is true of the Clinton scandals, the American people cannot look the other way just because the president and vice president are allegedly involved. Indeed, Judicial Watch has already sued Democrat and Republican officials in the Enron and Global Crossing scandals.”