U.K. Fraud Cops Drop Probe of Individuals in Amec Bribery Case
- Decision comes months after John Wood Group settled suit
- U.K.’s SFO has been under pressure over prosecution failures
The Foster Wheeler AG's offices in Reading, U.K.
Photographer: Matthew Lloyd/Bloomberg
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The U.K.’s fraud prosecutor closed its investigation into individuals over bribery at Amec Foster Wheeler Plc, after the British engineering firm’s parent company settled the four-year probe earlier this year.
John Wood Group Plc, which acquired Amec in 2017, agreed to pay $177 million as part of a global agreement to settle the investigation in June. The U.K.’s Serious Fraud Office walked away with 103 million pounds ($141 million), the biggest portion of the settlement, while U.S. prosecutors got more than $28 million as part of the deal.