Ex-Innospec CEO Settles SEC Claims Over Iraq Bribery

Law360, New York (January 24, 2011, 4:42 PM EST) -- The former CEO of Innospec Inc. has agreed to shell out $229,000 to settle claims that he approved illegal payments to Iraqi and Indonesian officials to win oil and gas contracts in violation of the Foreign Corrupt Practices Act.

The SEC lodged its suit against ex-CEO Paul W. Jennings in the U.S. District Court for the District of Columbia on Monday, the same day it announced that Jennings had agreed to cough up about $129,000 in disgorgement and prejudgment interest and a penalty of $100,000....
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