If filed, the charges would come about three months after Craig's former law firm agreed to pay more than $4.6 million and publicly acknowledge that it failed to register with the government for its work for the Ukraine.
"This case was thoroughly investigated by the [Southern District of New York] and that office decided not to pursue charges against Mr. Craig".
In April 2018 a Dutch lawyer working for Skadden, Alex van der Zwaan, was sentenced to 30 days in jail and a $20,000 fine after pleading guilty to lying to the Mueller investigation relating to his work for Ukraine together with Manafort and Manafort's partner Rick Gates.
"Mr. Craig is not guilty of any charge", they said.
The case against Craig stemmed from Special Counsel Robert Mueller's Russia probe, centering around the lobbying work he performed in 2012 for the Russian-backed president of Ukraine, Viktor Yanukovych, while Craig was a partner at the law firm Skadden, Arps, Slate, Meagher & Flom.
Craig's legal team said Wednesday night they believe he may be charged soon by the U.S. Attorney's Office in Washington, D.C., with making false statements to federal investigators.
But subsequently, as prosecutors began scrutinizing the work of Manafort and his associates in Ukraine, they reexamined the role of Craig's firm, including whether Craig was honest during his interactions with the Justice Department over his registration requirements in 2013.
The apparent lobbying work was done after Craig's tenure as White House counsel, according to the report.
After examining Craig's case, federal prosecutors in NY concluded they had insufficient evidence to bring charges against him, CNN has reported.
The White House and Justice Department did not immediately respond to a request for comment from The Hill.
The report was billed as independent, and while critical in some ways of Tymoshenko's trial, critics have said it whitewashed a politically motivated prosecution. The language of the settlement appeared to leave Craig exposed to potential criminal charges for what the document describes as his repeated "false and misleading" statements to Justice Department officials.
The alleged false statement that prosecutors are focused on reportedly involves contact that he had with the media, specifically The New York Times, and whether Craig's contact with the media would have required him to have registered as a foreign lobbyist. The lawyers also said that he had not lied either to Skadden or the government about his conversations.