UK Serious Fraud Office Announces Charges Against Ex-Directors of Serco

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The multi-million pound conglomerate provides outsourced services in the fields of military, health, transport, justice, immigration, and citizens services. It has been embroiled in criminal investigations since 2014.

The UK’s Serious Fraud Office (SFO) has brought criminal charges of “fraud by false representations and false accounting” against two former directors of the international conglomerate Serco. The SFO announced the charges against Nicholas Woods, ex-Finance Director of Serco Home Affairs, and Simon Marshall, former Operations Director of Field Services, at midday on 16 December 2019.

Marshal faces two additional charges of fraud by false misrepresentation and Woods an additional charge of false accounting.

A spokesperson for Serco said “neither of the individuals charged have been employed by Serco since 2013” and the charges pertain “in relation to events which occured between 2011 and 2013”.

They continued saying:

Charges Follow Five-Year SFO Investigation

While the SFO refused to discuss further details of the case, it did note that the charges follow the completion of the DPA, settled between the SFO and Serco Group subsidiary Serco Geografix Ltd, regarding criminal charges for fraud dating back to 2011.

The SFO first announced its investigation regarding Serco’s “electronic monitoring contracts” on 4 Nov 2014.

According to the SFO Serco Georgrafix Ltd took responsibility for:

Under DPA’s corporations typically agree to stop certain behaviours, or otherwise change certain behaviour, as well as pay fines to avoid a full-blown prosecution which may be more damaging to the businesses.

The SFO said that under the DPA agreed between Under the terms of the DPA, Serco Geografix Ltd was ordered to pay £19.2 million as well as the £3.7 million it cost the SFO to investigate the company.

This was, “in addition to the £12.8m compensation already paid by Serco to the MoJ as part of a £70m civil settlement in 2013”.

Serco, a multi-billion pound company, and provides outsourced public services in the fields of military, justice, immigration, health, transport, and citizen services. It reportedly employs 50,000 staff worldwide. 

Stock prices in the company dipped temporarily following the announcement, but picked back up quickly thereafter.

Sourse: sputniknews.com

UK Serious Fraud Office Announces Charges Against Ex-Directors of Serco

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