Jacob Frenkel interviewed by CNBC’s Squawk Box on United Airlines replacing CEO
September 9, 2015
The company did the right thing by launching an internal investigation, said Jacob Frenkel, a former federal prosecutor and now a partner at law firm Shulman Rogers.
“When quality corporations have senior executives who are caught up in some set of allegations, now corporate discipline requires that they remove themselves or be removed from those positions of leadership,” he told “Squawk Box.”
Frenkel said traditional bribery in which money changes hand is no longer common. The guts of the federal investigation will boil down to whether there was a bribe, quid pro quo, or kickback.
“The fundamental issue that has to be proven … is that there was criminal intent here, that there was something of value that was given in exchange for an official act or expectation of an official act.”
Watch the full interview at CNBC.