Serco Falsified Accounts To Back 'Fictitious' Costs, Jury Told

Law360, London (March 31, 2021, 6:26 PM BST) -- Serco Group PLC falsified its accounts to support a faked bill for £3 million ($4.1 million) in fictitious costs sent to the government to hide profits from a contract for the electronic tagging of offenders, prosecutors told a court on Wednesday.

The outsourcing giant's accounting records included payments made to its prison services subsidiary Serco Geografix Ltd. for sham services devised by two former executives to artificially suppress the profitability of its contract with the U.K. government, Serious Fraud Office prosecutor Michael Bowes QC alleged.

Former Serco executives Nicholas Woods and Simon Marshall are on trial at Southwark Crown Court on...

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