Ex-PetroTiger co-CEO avoids prison in Ecopetrol bribery case

Ex-PetroTiger co-CEO avoids prison in Ecopetrol bribery case
Posted by Reuters on Jun 16, 2015

A former co-chief executive of oil services company PetroTiger Ltd was sentenced to probation on Tuesday, a day after his bribery trial ended abruptly when he pleaded guilty to a single conspiracy charge.

Joseph Sigelman was sentenced by US District Judge Joseph Irenas in Camden, New Jersey, to serve three years of probation and pay a $100,000 fine and $239,015 in restitution, the office of U.S. Attorney Paul Fishman said.

Sigelman admitted to conspiring with two former PetroTiger officials, co-Chief Executive Knut Hammarskjold and General Counsel Gregory Weisman, to pay $333,500 in bribes to a former worker at Colombia’s state-owned Ecopetrol SA for help in winning an oil services contract.

The government dropped other charges, including money laundering and violating the federal Foreign Corrupt Practices Act, for which Sigelman could have faced decades in prison if convicted. He faced up to one year in prison under his plea agreement.

. . .

Sigelman is a former Goldman Sachs Group Inc banker.

More:
http://colombiareports.com/ex-petrotiger-co-ceo-avoids-prison-in-ecopetrol-bribery-case/

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Joseph Sigelman



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