from fuelfix......Weatherford last found itself in hot water with the SEC three years ago when it agreed to pay $253 million to settle federal charges that it bribed officials in the Middle East and Africa to win business. The SEC confirmed the two cases overlapped.
Weatherford staffers used code names like “Dubai across the water” to hide business dealings in Iran, according to the SEC investigation. Among other improper payments, the SEC said Weatherford paid for a trip to the 2006 World Cup for two officials from a state-owned Algerian company, a honeymoon for an official’s daughter and a religious trip to Saudi Arabia for an official and his family.