Innospec, Inc. / Paul W. Jennings
Innospec Inc.
United States
Securities and Exchange Commission
Indonesia, Iraq (UN Oil-for-Food); Iraq
Consent to Final Judgment
Disgorgement of Profits, Prejudgment Interest, Civil Penalty
Art. 1, Art. 8
Bribery of foreign officials, Falsification of books and records, Internal controls violations, Aiding and Abetting Innospec's falsification of books and records, Aiding and Abetting Innospec's internal controls violations
No admission or denial of alleged offenses
According to the US Securities and Exchange Litigation Release and Complaint in SEC v. Paul W. Jennings, Mr. Jennings joined Innospec in 2002 as the Chief Financial Officer. the SEC Complaint alleged that Mr. Jennings became aware of Innospec's bribery scheme in Iraq and as he took on additional executive roles, approved and/or faciliated bribes and he also was aware of and approved bribery payments to Indonesian officials, including one scheme involving Pertamina, the Indonesian state-owned oil and gas company. (Sources: US Securities and Exchange Commission Litigation Release No. 21822 / January 24, 2011, Securities & Exchange Commission v. Paul W. Jennings, 1:11-CV-00144 (D.D.C.) (RMC), "SEC Files Settled Bribery Charges against Paul W. Jennings," and Securities & Exchange Commission v. Paul W. Jennings, 1:11-CV-00144-RMC (D.D.C.), Complaint filed on January 24, 2011.)