Agreement means security firm will avoid prosecution for overcharging the government for tagging offenders

Security firm G4S has been fined £44m by the Serious Fraud Office (SFO) as part of an agreement that will see it avoid prosecution for overcharging the Ministry of Justice for the electronic tagging of offenders, some of whom had died.

The SFO said G4S had accepted responsibility for three counts of fraud that were carried out in an effort to “dishonestly mislead” the government, in order to boost its profits.

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