The U.K.’s Serious Fraud Office reached an agreement with a subsidiary of G4S PLC, a security services company, for a 38.5 million pound ($48.6 million) settlement for allegations of procurement fraud.
The allegations consist of three offenses of fraud, occurring between August 2011 and May 2012 with the intention to mislead the U.K.’s Ministry of Justice about profits from electronic monitoring services for the subsidiary G4S Care and Justice Services.
