Foster Wheeler “brazenly and calculatedly paid bribes to officials around the world” for 18 years, the Serious Fraud Office said as it confirmed a $177 million global settlement with Wood Group, now the company’s owner.
An oil services group, Foster Wheeler committed offences “to cut corners and secure contracts” and went to “great lengths to conceal its corrupt conduct” between 1996 and 2014 in Nigeria, Saudi Arabia, Malaysia, India and Brazil, said Lisa Osofsky, SFO director.
Foster Wheeler was bought by Amec in 2014 to form Amec Foster Wheeler, which was then taken over by Wood Group in 2017. The SFO launched its investigation in July 2017, after the Wood Group takeover was announced but before it completed.
On Thursday Lord Justice Edis approved a