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Serco 'falsified' financial models to hide prison tagging profits, UK court told

By Martin Coyle and Phoebe Seers ( June 10, 2024, 10:45 GMT | Insight) -- Serco Group "falsified" its financial models as part of a bid to conceal that it was overcharging the UK government for a prisoner tagging contract, lawyers for institutional investors claimed today at the High Court in London. The outsourcing company is being sued by institutional investors who claim that fraudulent activity at the company led to a large drop in its share price and subsequent losses.Serco Group "falsified" its financial models as part of a bid to conceal that it was overcharging the UK government for a prisoner tagging contract, lawyers for institutional investors claimed today at the High Court in London....

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