{"id":3061,"date":"2014-05-12T01:30:11","date_gmt":"2014-05-12T08:30:11","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=3061"},"modified":"2014-05-12T12:26:33","modified_gmt":"2014-05-12T19:26:33","slug":"former-chief-executive-officer-oil-services-company-indicted-new-jersey-foreign-bribery-kickback-charges","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=3061","title":{"rendered":"Former CEO of Oil Company Indicted for Taking Bribes and Accepting Kickbacks"},"content":{"rendered":"

\"\"<\/a>NEW JERSEY<\/strong> \u00a0– \u00a0The former co-chief executive officer \u00a0of PetroTiger Ltd<\/strong>. \u2013 a British Virgin Islands oil and gas company with operations in Colombia and offices in New Jersey \u2013 was indicted last week for his role in a scheme to pay bribes to foreign government officials, officials said.<\/p>\n

Joseph Sigelman<\/strong>, 43, who resides in Miami and the Philippines, was indicted today by a federal grand jury in New Jersey and charged with conspiracy to violate the federal law and to commit wire fraud, conspiracy to launder money, and other felonies.<\/p>\n

Gregory Weisman,<\/strong> 42, of Moorestown, New Jersey, the former general counsel of PetroTiger, pleaded guilty on Nov. 8, 2013,\u00a0to conspiracy to violate the federal laws, \u00a0including wire fraud.<\/p>\n

Sigelman\u2019s co-CEO, Knut Hammarskjold,<\/strong> 42, of Greenville, South Carolina, pleaded guilty to the same charge on Feb. 18, 2014.<\/p>\n

According to court records, Sigelman and others allegedly paid bribes to an official in Colombia in exchange for the official\u2019s help in securing approval for an oil services contract worth roughly $39 million.<\/p>\n

To hide the bribes, the defendants first attempted to make the payments to a bank account in the name of the foreign official\u2019s wife for consulting services she did not perform.<\/p>\n

Sigelman and Hammarskjold provided Weisman invoices, including her bank account information.<\/p>\n

The conspirators made the payments directly to the official\u2019s bank account when attempts to transfer the money to his wife\u2019s account failed. Sigelman and his conspirators then took steps to hide the bribe payments from PetroTiger\u2019s board members.<\/p>\n

In addition, court documents allege that Sigelman and others attempted to secure kickback payments while negotiating an acquisition of another company on behalf of PetroTiger, including on behalf of several members of PetroTiger\u2019s board of directors who were helping to fund the acquisition.<\/p>\n

In exchange for negotiating more favorable terms for the owners of the target company, two of the owners agreed to kick back to the conspirators a portion of the increased purchase price, officials said.<\/p>\n

To hide the kickback payments, authorities said \u00a0Sigelman and others had the payments deposited into Sigelman\u2019s bank account in the Philippines, created a \u201cside letter\u201d to falsely justify the payments and used the code name \u201cManila Split\u201d to refer to the payments amongst themselves.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

NEW JERSEY \u00a0– \u00a0The former co-chief executive officer \u00a0of PetroTiger Ltd. \u2013 a British Virgin Islands oil and gas company with operations in Colombia and offices in New Jersey \u2013 was indicted…<\/p>\n","protected":false},"author":1,"featured_media":3068,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,16],"tags":[169,480],"class_list":["post-3061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-courts","category-home-main-slider","tag-bribes","tag-petrotiger"],"yoast_head":"\nFormer CEO of Oil Company Indicted for Taking Bribes and Accepting Kickbacks<\/title>\n<meta name=\"description\" content=\"Former Chief of PetroTiger Indicted for Bribery and Accepting Kickbacks\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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