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PetroTiger Co-Chiefs Charged With Colombian Bribes

Two former co-chief executive officers of PetroTiger Ltd. paid bribes to an official at Ecopetrol SA, Colombia’s state-controlled oil company, for a $39.6 million oil-service contract, the U.S. charged.

The co-CEOs funneled payments through the wife of an official at Ecopetrol, Latin America’s second-largest oil company by market value, authorities said. One of the co-CEOs, Joseph Sigelman, 42, was a banker at Goldman Sachs Group Inc. before joining PetroTiger. Sigelman, who was arrested Jan. 3 in the Philippines, appeared at a bail hearing today in Guam.