A day after Justice Secretary Chris Grayling said that G4s may still be prosecuted over claims that it overcharged on electronic monitoring contracts, the company has announced via its website that it is to repay £108.9 million to the Ministry of Justice.
The company's Chief Executive, Ashley Almanza, said:
'The conclusion of the Cabinet Office and MoJ reviews and the agreement of a settlement with the MoJ are important milestones for the Group.
'The way in which the EM contract was billed was not consistent with the contract or the Group’s values and we have apologised to the MoJ and the Government. We have repaid all amounts overbilled and have implemented significant changes to strengthen contract management and controls and to ensure our business is always conducted in a manner which is consistent with our group values.
'We believe that the conclusion of this matter, together with the actions we are developing on corporate renewal, will enable us to maintain our position as a strategic supplier to Government.'
Working to the contract (19 November, 2013)