US SEC charges former Innospec officials with Iraqi bribery

by Kim Dixon | Thomson Reuters Foundation
Thursday, 5 August 2010 17:36 GMT

WASHINGTON, Aug 5 (Reuters) - U.S. securities regulators on Thursday charged a former business director and third-party agent for Innospec Inc with bribing Iraqi officials in the United Nations' Oil for Food program.

The Securities and Exchange Commission said the two individuals agreed to settle the charges that they bribed officials to land contracts for collectively more than $1 billion.

The SEC had charged Innospec earlier this year with violating the Foreign Corrupt Practices Act.

(Reporting by Kim Dixon, editing by Maureen Bavdek)

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