SEC Settles Oil-For-Food Case Against Innospec Execs

Law360, New York (August 5, 2010, 4:40 PM EDT) -- The U.S. Securities and Exchange Commission on Thursday settled bribery allegations against the former business director of Innospec Inc., who was accused of paying Iraqi officials in order to secure contracts under the United Nations Oil-for-Food Program.

David P. Turner was accused of violating the Foreign Corrupt Practices Act in a complaint filed in the U.S. District Court for the District of Columbia. Ousama M. Naaman, Innospec's third-party agent in Iraq who allegedly arranged the bribes, was also named in the suit.

Turner has agreed to...
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