Ex-Serco Execs Hid £12M Profit From UK Gov't, SFO Tells Jury
Law360, London (March 30, 2021, 5:41 PM BST) -- Two former Serco executives appeared at a London court on Tuesday to face trial on fraud charges over allegations that they concealed £12 million ($16.3 million) in profits made by the outsourcing giant from selling electronic tagging systems to the government.
Nicholas Woods and Simon Marshall made false representations to the Ministry of Justice between 2011 and 2013 that artificially inflated Serco Group PLC's costs from an electronic tagging contract and suppressed its profits, the Serious Fraud Office alleged on the first day of the trial at Southwark Crown Court. The trial is expected to last three months.
SFO prosecutor Michael Bowes...
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