Civil Plaintiff
A Bribery Case Has Been Settled for $177 Million
John Wood Group Plc said it agreed to pay $177 million to settle a UK-led bribery and corruption probe into a British engineering firm it acquired in 2017.
The settlement is part of a so-called deferred prosecution agreement with the Serious Fraud Office and the U.S. Department of Justice concerning Amec Foster Wheeler Plc, Wood Group said in a statement Friday. The UK agreement is still subject to court approval. As part of the deal, the company can avoid prosecution for three years if it cooperates in the continuing bribery probe.
Wood Group’s payment is one of the largest ever obtained in a UK-led bribery and corruption case. The biggest was a $1.2 billion settlement with Airbus SE that also involved U.S. and French authorities.
