- Colombian state oil firm Ecopetrol (NYSE:EC) was up 7.2% after hours, adding to gains of 1.9% today, in the wake of news that Colombia arrested seven suspects on charges of a kickback scheme between EC and services contractor PetroTiger.
- The suspects include four current Ecopetrol employees.
- The charges follow the U.S. indictment last May of PetroTiger's former CEO Joseph Sigelman on charges of paying a former Ecopetrol employee $335K in order to win a $39M conttact.
- Ecopetrol says it has suspended the four current employees.
- Previously: Ecopetrol names former finance minister Echeverry as CEO (Mar. 06 2015)