Serco staff wrote fake invoices worth £500,000 a month in failed bid to defraud the taxpayer
Serco staff cooked up fake invoices worth £500,000 a month at the height of an ill-fated attempt to defraud the taxpayer, it has been revealed.
The company had a contract with the Ministry of Justice to monitor electronically-tagged offenders, awarded in 2005.
This had a clause requiring it to pay back excess profits to the Government.
Fake invoices: Serco had a contract with the Ministry of Justice to monitor electronically-tagged offenders, awarded in 2005
But between August 2011 and January 2013 it tried to hide these takings by creating false charges worth nearly £15million.
The Serious Fraud Office (SFO) said that for one period of six months ‘£500,000 per month’ was being falsely charged.
However the company was later investigated and agreed to pay a £23million out-of-court settlement.
Details were revealed for the first time yesterday after reporting restrictions lifted.
That followed the embarrassing collapse of the SFO’s prosecution of two former Serco executives.