A Few Lessons From FCPA Trial Of Ex-PetroTiger CEO

Law360, New York (June 25, 2015, 10:47 AM EDT) -- The trial of former PetroTiger Ltd. CEO Joseph Sigelman came to an abrupt end last week after prosecutors agreed to a plea agreement that appears to include terms favorable to the ousted executive. In May 2014, Sigelman, the founder of PetroTiger, an oil and gas services company based out of the British Virgin Islands, was charged in a six-count indictment alleging violations of the Foreign Corrupt Practices Act. According to the indictment, Sigelman allegedly orchestrated a bribery and kickback scheme relating to a $40 million oil services contract between PetroTiger and Ecopetrol SA, the state-owned Columbian petroleum company. In the middle of his trial, on June 15, 2015, Sigelman pled guilty to one count of conspiracy to violate the FCPA, and, at sentencing, was able to avoid jail time....

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