PetroTiger’s Counsel Reveals the Defense Strategy That Led to a DOJ Declination

Three of the company’s senior managers were involved in the bribery scheme, including the CEO (who pled guilty during his trial on June 15), and yet the DOJ declined to prosecute PetroTiger for FCPA violations – its first public declination since Morgan Stanley.  The case is a source of hope for companies with FCPA issues, Timothy Treanor told the Anti-Corruption Report.  Treanor, a partner at Sidley Austin who negotiated with the government on behalf of PetroTiger, discussed why he and his team were able to achieve such a favorable result and convince the government that this was indeed the case of a “rogue CEO.”  Treanor emphasized that he thinks the FCPA bar can get further with the government than it may expect, and discussed the self-reporting calculation, the struggle to operate a business during the government investigation, strategies for the negotiation, and more.  See also “Comparing and Contrasting Three FCPA Experts’ Advice on Negotiating FCPA Settlements” (Aug. 20, 2014).

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