The agreement struck by its Serco Geografix Ltd. unit will now go before a U.K. judge for approval, the Serious Fraud Office said in a statement Wednesday. Serco has already paid 70 million pounds to the U.K.’s Ministry of Justice and must also pay the SFO’s costs.
“Serco apologized unreservedly at the time, and we do so again.”
Serco acknowledged responsibility for three offences of fraud and two of false accounting over a scheme to dishonestly mislead the Ministry of Justice as to the true extent of the profits being made” from 2010 to 2013 by parent company Serco, the SFO said. The fine was cut in half to reflect the Hook, England-based company’s cooperation with the probe.
Bloomberg | July 3rd, 2019