The Motley Fool

Serco Group plc To Repay £68.5m For Overcharging On Tagging Contracts

Shares in Serco (LSE: SRP) fell by more than 2.5% in early trade this morning, in anticipation of the investigation outcome relating to claims it overcharged the government for tagging criminals.

Following the government review, Justice Secretary Chris Grayling today ordered Serco to repay £68.5m of taxpayers’ money, with the security services company raising the estimated costs from the scandal to £36m from £27m, not counting the aforementioned payment of nearly £70m.

5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!

According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…

And if you click here we’ll show you something that could be key to unlocking 5G’s full potential...

Alongside G4S (LSE: GFS), it is claimed that both firms charged the taxpayer to electronically tag people who were not being monitored, whether in prison or out of the country — or, worryingly, a small number who were deceased.

The share of both companies’ government contracts for monitoring criminals has been passed to Capita. During the review, the government found “serious issues” in two G4S contracts, which have been passed on to the Serious Fraud Office. Shares in G4S also slipped by around 2.5% this morning.

“This Stock Could Be Like Buying Amazon in 1997”

I'm sure you'll agree that's quite the statement from Motley Fool Co-Founder Tom Gardner.

But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.

What's more, we firmly believe there's still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.

And right now, we're giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.

Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!

> Sam does not own shares in Serco or G4S.

Our 6 'Best Buys Now' Shares

The renowned analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.

So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we're offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our 'no quibbles' 30-day subscription fee refund guarantee.

Simply enter your email address below to discover how you can take advantage of this.

I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.