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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!