Serco staff face fraud probe
Staff at private security giant Serco face a police investigation after the Government uncovered potentially fraudulent behaviour in the management of its £285 million prison escorting contract.
Shares in Serco plunge more than 13%
Shares in the British outsourcing firm Serco plunged more than 13 percent this morning after revelations by the government about faults with its prisoner escort services.
The share price closed at 606.50p at the end of Wednesday, and plunged to 507.50p at its lowest point today.
The falling share price overshadowed a 10.5 percent rise in pre-tax profits for the first half of this year to £127.1 million.
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