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12 June 2012 | Kamalpreet Badasha
Former CEO of chemical manufacturer Innospec Paul Jennings yesterday admitted paying Indonesian and Iraqi officials to secure contracts.
Jennings, who was CEO between April 2005 and March 2009, pleaded guilty to two charges of conspiracy to corrupt at Southwark Crown Court, admitting to making payments to the officials to secure deals on behalf of his employer at the time.
The payments were made to Indonesian officials between 2002 and 2008 and to Iraqi officials between 2003 and 2008. The deals included securing the supply of Innospec’s fuel additive tetraethyl lead.
Pleas of not guilty were entered by Miltos Papachristos, former Asia-Pacific regional sales director, and Dennis Kerrison, who was CEO between 1998 and April 2005. Both have been charged with one count of conspiracy to corrupt an Indonesian public official by the Serious Fraud Office.
Jennings will be sentenced following the trial of Papachristos and Kerrison, for which a date has yet to be set.