Today at Southwark Crown Court the Judgment of Lord Justice Thomas in connection with the prosecution of Innospec Ltd was issued.
On 18 March 2010, Innospec Ltd appeared before Lord Justice Thomas at Southwark Crown Court and entered a plea of guilty to bribing employees of Pertamina (an Indonesian state owned refinery) and other government officials in Indonesia.
At that hearing the judge indicated he would impose a financial penalty of the sterling equivalent of US$12.7 million and he adjourned sentencing and remarks to today.
In sentencing today, Lord Justice Thomas stated that that sum is to be paid by way of a fine. The 14-page judgment also includes guidance. (Available on the Judiciary of England and Wales website - http://www.judiciary.gov.uk/NR/rdonlyres/5343F038-A6E5-448B-BB2D-7CA31F9E2DDA/0/sentencingremarksthomasljinnospec.pdf).
Commenting on the guidance, SFO Director Richard Alderman said, "This has been a ground-breaking case involving a global settlement that the SFO has brought to the English courts. I am deeply grateful to Lord Justice Thomas for the detailed guidance he has given on all the complex issues involved. This is a very important decision which will guide the SFO in our approach to these matters in future."
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