Ex Innospec CEO admits bribery
The former boss of US chemical company Innospec admitted corruption charges at Southwark Crown Court yesterday. Paul Jennings pleaded guilty to conspiring to make corrupt payments to public officials in Indonesia and Iraq to secure contracts.
He was the third senior executive at the firm to admit corruption. Innospec admitted in 2010 that it had paid millions in bribes between 2002 and 2008 to secure contracts to sell the two countries a fuel additive that has been phased out from industrialised countries because of health and environmental concerns.
Mr Jennings will enter pleas on two other charges at a hearing on 2 July.
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