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Innospec Ltd: Former CEO admits making corrupt payments

11 June 2012

Paul Jennings appeared before Southwark Crown Court today charged with alleged offences of conspiring to make corrupt payments to public officials in Indonesia and Iraq to secure contracts for Innospec Ltd for the supply of its products.

Mr Jennings, a former CEO for Innospec Ltd, pleaded guilty today to the following charges:

Two allegations of conspiracy to corrupt in that he gave or agreed to give corrupt payments to public officials and other agents of the Government of Indonesia (between 14 February 2002 and 31 December 2008) and Iraq (between 1 January 2003 and 31 January 2008) as inducements to secure, or as rewards for having secured, contracts from that Government for the supply of its products including Tetraethyl Lead by Innospec.

Mr Miltos Papachristos, who was at the time the Regional Sales Director for the Asia-Pacific region for Innospec and Mr Dennis Kerrison, former CEO entered not guilty pleas. They are together charged with one count of conspiring to corrupt via giving or agreeing to give corrupt payments to public officials and other agents of the Government of Indonesia (between 14 February 2002 and 31 December 2008) as inducements to secure, or as rewards for having secured, contracts from that Government for the supply of its products including Tetraethyl Lead by Innospec.

 

Notes for editors:

  1. Former Innospec sales and marketing director Dr David Turner pleaded guilty on 17 January 2012 to two conspiracy to corrupt charges.
  2. In March 2010 the company Innospec Ltd admitted to bribing Indonesian government officials employed by Pertamina, a state owned refinery.
  3. Authorities assisting the SFO throughout the investigation were the US Department of Justice, the US Securities & Exchange Commission, the City of London Police and the Cheshire Constabulary.
  4. Mr Kerrison was CEO of Associated Octel Corporation, (subsequently renamed Innospec Ltd).
  5. The Serious Fraud Office is a government department responsible for investigating and prosecuting serious and complex fraud. The SFO is headed by the Director (David Green CB QC) who exercises powers under the superintendence of the Attorney General. These powers are derived from the Criminal Justice Act (1987).

  

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