Financial Crime Financial Crime

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

By Martin Coyle and Phoebe Seers
  • 10 Jun 2024 11:45
  • 10 Jun 2024 12:22
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, which holds numerous UK government contacts, is being sued by

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Martin Coyle

Senior Correspondent

Martin Coyle is a senior correspondent, based in MLex's London office, reporting daily on bribery and corruption issues in the UK and Europe. Previously he was a senior editor at Thomson Reuters where he covered anti-money laundering, financial crime and regulatory enforcement issues. Prior to that he was editor of The Accountant, the world's oldest accounting publication, and International Accounting Bulletin, a bi-monthly business journal owned by Lafferty.

Phoebe Seers


Phoebe has covered Financial Crime and compliance issues for MLex since 2015, initially in the Hong Kong bureau and currently in London. While in Hong Kong she won two SOPA awards for her reporting on corruption in the energy sector in Indonesia. Prior to journalism she worked as a solicitor with a focus on white-collar crime litigation in London and Hong Kong. She has a BA in English and Philosophy from Newcastle University.

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