Bribery Defendant Giffen Walks Away With No Penalty

Law360, New York (November 19, 2010, 6:32 PM EST) -- James H. Giffen, the chairman of investment bank Mercator Corp., walked away virtually scot-free on Friday from a case over the alleged bribery of Kazakh officials on behalf of Western oil companies, with the judge noting that Giffen’s "time served" battling the charges was punishment enough.

Judge William H. Pauley of the U.S. District Court for the Southern District of New York declined to impose any sentence on Giffen, including probation or fines, for the misdemeanor tax crime to which he eventually pled guilty after initially...
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