Clinton Advisor Agrees to Pay Penalty
Samuel R. “Sandy” Berger, President Clinton’s national security advisor, agreed Monday to pay $23,043 for failing to sell Amoco Corp. stock until 15 months after government attorneys advised him to do so.
In legal papers settling a civil conflict-of-interest suit brought against him by the Justice Department, Berger said that he had forgotten about instructions to sell the 1,300 Amoco shares, held in four trusts for his wife and three children, and did not knowingly take part in decisions in which he had a financial interest.
As part of the settlement, Berger acknowledged that matters which may have had an effect on Amoco came before him during the 15-month period--from March 16, 1994, until June 19, 1995--when he was deputy national security advisor.
But there is no evidence that Berger’s decisions were influenced by consideration of his family’s financial interest. Justice Department attorneys said that, lacking such evidence, they would not bring criminal charges.
The settlement payment, to be made in 10 days to the U.S. treasurer, represents the $19,338 increase in the value of the Amoco shares over the 15 months that Berger failed to sell them and $3,705 in dividends paid on the stock.
“The president was satisfied long ago with how this issue was resolved, and he has complete confidence in Sandy,” White House spokesman Barry Toiv said.