Ex-PetroTiger CEO Blames Partners' Betrayals In FCPA Trial

Law360, New York (June 2, 2015, 9:33 PM EDT) -- Conflicting portraits of ex-PetroTiger Ltd. CEO Joseph Sigelman emerged Tuesday during the opening statements in his Foreign Corrupt Practices Act trial in New Jersey federal court, where a jury must decide if he's the lynchpin in a bribery scheme or an industrious entrepreneur betrayed by his closest associates.

Federal prosecutors say they intend to prove Sigelman conspired with PetroTiger's general counsel-turned-FBI informant Greg Weisman and another former CEO, Knut Hammarskjold, to pay more than $300,000 to an employee of Colombia's national gas company to secure a $39 million contract. Sigelman, they said, also hid a kickback scheme from investors who funded an...

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