The U.S. Securities and Exchange Commission said Triton Energy Ltd., Dallas, has agreed to pay $300,000 to resolve charges that a subsidiary bribed Indonesian government officials in 1989-90 in violation of the Foreign Corrupt Practices Act.
SEC took administrative proceedings against David Gore and Robert Puetz, former officers of Triton, and William McClure and Robert P. Murphy, former officers of Triton Indonesia Inc.
Triton Indonesia participated in secondary recovery and field revitalization projects in South Sumatra in the late 1980s (OGJ, Nov. 6, 1988, p. 43).
The SEC order alleged Murphy, Triton Indonesia's controller, knowingly participated in creating and recording false entries in Triton Indonesia's books and records; and McClure, its commercial manager, failed to assure Murphy's entries accurately reflected the underlying transactions.
It said Gore, formerly Triton Energy's president and a director, and Puetz, formerly Triton Energy's senior vice-president of finance and chief financial officer, each received information indicating Triton Indonesia was engaged in potentially unlawful conduct but took no action.
Without admitting or denying the charges, the four agreed to cease and desist.
SEC also filed a complaint in District of Columbia federal district court against Triton and Philip Keever and Richard McAdoo, both former senior officers of Triton Indonesia.
It alleged in 1989-90 they authorized numerous improper payments to Roland Siouffi, Indonesia's business agent acting as an intermediary between Triton Indonesia and Indonesian government agencies, "knowing or recklessly disregarding the high probability that Siouffi either had or would pass such payments along to Indonesian government employees for the purpose of influencing their decisions affecting the business of Triton Indonesia."
Triton and Keever consented, without admitting or denying the allegations, to a final judgment that enjoins them from violating the Securities Exchange Act. Triton is paying a $300,000 fine and Keever a $50,000 fine. McAdoo maintains he is innocent and will stand trial.
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