Serco, the outsourcing company, has agreed to pay £22.9m in fines and costs in a settlement with the Serious Fraud Office relating to its electronic tagging contract scandal.
The company said it had agreed a so-called deferred prosecution agreement that saw its UK subsidiary Serco Geografix take responsibility for three offences of fraud and two of false accounting. They relate to an understatement of profits under contracts held with the Ministry of Justice between 2010 and 2013 for the monitoring of offenders in the community.Serco, which referred itself to the SFO in 2013, faced allegations it had been charging the government for supervising the movements of people who were either dead, in jail, or had left the country.
The agreement, which is subject to court approval, means the company is not due to face formal criminal charges.Serco said no board members or senior executives that were in post at the time of the offences still work for the group today.
Surprise?!
I bet they still profited from it there was never any benefit in outsourcing anything.
But they still won't lose the contract and will still act dishonestly and think of another way to steal money from taxpayers while of course continue making profit. Basically failed tory privatisation.
Excuse me that's called fraud.
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