Serco could face no criminal charges if deal with SFO is approved
Outsourcer Serco was previously facing three offences of fraud and two of false accounting, due to overstating profits on their contract with the UK Ministry of Justice for their electronic tagging service. However, they have recently struck a deal with the Serious Fraud Office (SFO) in which they would pay a £19.2 million fine and £3.7 million to the SFO. If this is approved they will face no criminal charges, despite individuals still being investigated.
‘relatively low fine considering the conduct and they [Serco] haven’t come out of it too badly.’
The full article is available to the Financial Times subscribers, here.