THE former chief executive of a chemical giant in Ellesmere Port has admitted corruption charges.
Paul Jennings, 55, of Neston, admitted two charges relating to alleged corrupt payments to officials in Indonesia and Iraq on Monday.
Innospec, based in Ellesmere Port, is the only remaining manufacturer in the world of tetraethyl lead, an additive used in leaded fuels.
It was formerly known as Associated Octel.
Jennings joined Innospec as chief financial officer in 2003 and was chief executive from 2005-2009.
A statement from the Serious Fraud Office (SFO) said that, appearing at Southwark Crown Court yesterday, Jennings pleaded guilty to two allegations of conspiracy to corrupt ‘in that he gave or agreed to give corrupt payments to public officials and other agents of the governments of Indonesia (between February 14, 2002, and December 31, 2008) and Iraq (between January 1, 2003, and January 31, 2008) as inducements to secure, or as rewards for having secured, contracts from those governments for the supply of its products including tetraethyl lead by Innospec.’
Dennis Kerrison, also a former chief executive of Innospec, and Miltos Papachristos, who was at the time the regional sales director for the Asia-Pacific region for Innospec, both pleaded not guilty to a charge of conspiring to corrupt Indonesian officials between 2002 and 2008.
Their trial is scheduled to start next March.
The SFO has been assisted in its investigation into Innospec by the US Securities & Exchange Commission, the US Department of Justice, Cheshire Constabulary and the City of London Police.