Serco To Pay SFO £22.9M To End UK Fraud Probe

Law360, London (July 3, 2019, 8:56 AM BST) -- A subsidiary of security outsourcing giant Serco agreed to pay £22.9 million ($28.8 million) to avoid prosecution for misleading officials about the profits it made from selling an electronic tagging system for prisoners, the Serious Fraud Office said Wednesday.

A subsidiary of Serco, pictured here taking prisoners to a London jail, has signed an agreement to avoid a fraud prosecution over profits it made from selling an electronic tagging system, the SFO said. (Getty Images) Britain's anti-fraud squad said the penalty was part of a deferred prosecution agreement with Serco Geografix Ltd. over fraud and false accounting allegations connected to earnings on a...

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