Group Action.17 Mar 2026 16:20
Wood Group has been riddled with corruption ,liars,crooks and greed.The FCA investigation revealed multiple layers of corruption spanning a number of years of producing fake accounts
Key Findings of FCA investigation.
Misleading financial statements .overstating 2022 and 2023 operating profit of 26 million USD.
Improper accounting practices relating to future project costs.Underestimating of said costs.
Poor financial culture.Over optimism on accounting performance,failures on poor performance disclosure.
Chronic internal controls on misleading info to public and shareholders.
Incompliant accounting culture.
Lack of transparency with it's auditors,withholding bad and poor performance of projects.
FCA incurred a fine of circa 13m GBP reduced for early cooperation and admission of findings.
The fine relates to Wood Group plc.Not to the corrupt board members who are true crooks in this sorry saga.
The millionaire board members who are and we're involved in this corporate crime are getting away free,they should be prosecuted and issued with huge fines and imprisoned for their lies and deception to share holders.
The above findings far exceed the levels required that a group Action would be successful in my opinion.
Regards.
Best of luck going forward.
Thedetector.