Bribery Newsflash: Innospec director pleads guilty to corruption charges
Today, Dr David Turner, the former Innospec Limited Global Sales and Marketing Director, appeared before Southwark Crown Court and pleaded guilty to three counts of conspiracy to corrupt.
The first two counts charged a conspiracy to give corrupt payments to public officials and other agents of the Government of Indonesia and the Government of Iraq as inducements to secure, or as rewards for having secured, contracts for Innospec from those governments for the supply of its products including Tetraethyl Lead (a toxic anti-knock fuel additive).
Dr Turner additionally pleaded guilty in respect of one charge of conspiracy to corrupt Iraqi public officials and other agents of the Government of Iraq by making payments as inducements to ensure that tests on MMT, a competitor product, concluded with an unfavourable assessment.
The sentencing of Dr Turner was adjourned.
The case of two other Innospec executives, Dennis Kerrison and Paul Jennings, was adjourned until the 4 April 2012 for plea.
The charges against the individual Innospec executives come after a plea agreement between Innospec and the US and UK authorities. The corporate settlement involved a guilty plea by Innospec of conspiracy to corrupt and payments of $40 million in fines to the US and UK authorities. The agreed UK fine was $12.7 million, payable in part by way of civil settlement.
Recent enforcement action shows the UK Serious Fraud Office pursuing multiple claims arising from the same corrupt activity - against the company, against directors individually, and more recently, against shareholders.
For further information please contact Tony Lewis, Partner or Charlotte Ovans, Associate