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1
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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
TRITON INDONESIA EXCHANGE MCADOO COMPLAINT SECURITIES EXCHANGE COMMISSION TRITON ENERGY ACT PAYMENTS KEEVER BUSINESS LITIGATION TRITON ENERGY CORPORATION CIVIL ACTION CONSENT SETTLEMENT OFFICER JUDGEMENT VIOLATING PROVISION DISTRICT ALLEGES SIOUFFI INDONESIAN GOVERNMENT EMPLOYEES ACCORDING FALSELY DOCUMENTING TRANSACTIONS ROUTINE BUSINESS EXPENDITURES |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
LITIGATION RELEASE NO. 15396 / June 26, 1997
ACCOUNTING AND AUDITING ENFORCEMENT
RELEASE NO. 931 / June 26, 1997
SECURITIES AND EXCHANGE COMMISSION v. TRITON ENERGY CORPORATION, ET
AL.,
Civil Action No. 1:97CV00401 (RMU) (D.D.C.)
On June 26, 1997, the Securities and Exchange Commission filed a
consent settlement of a pending civil action against Richard L. McAdoo,
a
former senior officer of Triton Indonesia, Inc. (Triton Indonesia), a
subsidiary of Triton Energy Corporation ("Triton Energy"). McAdoo
consented, without admitting or denying the allegations contained in
the
Commission's Complaint, to the entry of a Final Judgment that
permanently
enjoins him from violating the antibribery provision and the internal
control and books and records provision of the Foreign Corrupt
Practices
Act ("FCPA"), Sections 30A(a) and 13(b)(5) of the Securities Exchange
Act
of 1934 ("Exchange Act") and Rule 13b2-1 thereunder. The Final
Judgment
also orders McAdoo to pay a $35,000 penalty pursuant to Sections 32
and
21(d)(3)(A) of the Exchange Act.
The Commission's Complaint, filed on February 27, 1997, in the
United
States District Court for the District of Columbia, alleged that during
the
years 1989 and 1990, McAdoo and Philip W. Keever, another former
officer of
Triton Indonesia, authorized numerous improper payments to Roland
Siouffi,
Triton Indonesia's business agent acting as an intermediary between
Triton
Indonesia and Indonesian government agencies, knowing or recklessly
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