A Guilty Plea and Two Flight Risks in PetroTiger Colombian Bribery Case

Three individual cases in the corruption risk-ridden oil and gas industry have added to January’s FCPA enforcement flurry.  The DOJ has unsealed FCPA charges against former PetroTiger executives related to alleged payments to an employee of Ecopetrol S.A., the Colombian state-owned petroleum company, to obtain a lucrative contract.  The former General Counsel has pled guilty and the two former CEOs were arrested (one at Newark airport and one in the Philippines) and are free on bail.  The article distills six compliance and enforcement takeaways from this case.  See also  “For Individual FCPA Defendants, Providing Assistance Can Lead Directly to Downward Departures in Sentencing” (Apr. 17, 2013).

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