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Legal Briefing
Corporate crime update: R v Innospec – SFO judicially criticised over global settlement
Practice Area: Financial Crime and Fraud
Sector: Manufacturing and engineering
Jurisdiction: England & Wales
Published: 31 March 2010
Law Firm: Herbert Smith
Overview
On 26 March 2010, Lord Justice Thomas, at Southwark Crown Court, handed down a sentencing judgment for Innospec Limited, which had pleaded guilty to charges of conspiracy to corrupt.
The judgment emphasised that sentencing rests with the Court and not with the Serious Fraud Office (SFO) through global settlement agreements or plea bargains. He also indicated that criminal cases involving corporate defendants should be resolved by criminal proceedings not civil recovery proceedings and that the level of fines should be much higher than those currently handed out.
Click to read more about this closely-watched judgment, which has clarified the position on global settlements between prosecuting authorities and offenders.
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