Three former executives of G4S Care and Justice Services have been charged with defrauding the Ministry of Justice.
Richard Morris, former managing director of the company, and two ex-directors of its electronic monitoring business - former commercial director Mark Preston and former finance manager James Jardine - are each charged with seven counts of fraud.
They appeared at Westminster Magistrates' Court on Tuesday accused of committing the offences in relation to false representations made to the MoJ between 2009 and 2012, the Serious Fraud Office (SFO) said.
Morris, 45, from High Wycombe; Preston, 49, from Cheshire and Jardine, 38, from Temple Sowerby, are due to appear at Southwark Crown Court on October 6.
Ross Dixon, from Hickman and Rose solicitors, who is representing Morris, said: "Mr Morris refutes these allegations in the strongest possible terms.
"He will robustly contest the charges and is confident he will be cleared of any wrongdoing."
G4S Care and Justice provided electronic monitoring services to the government from 2005 to 2013.
The company, a subsidiary of G4S, was accused of misleading the MoJ over the extent of its profits from the tagging contract between 2011 and 2012.
In July this year it was announced that the firm accepted responsibility for three counts of fraud and agreed to pay a financial penalty of £38.5 million and the SFO's full costs of £5.9 million.
The agreement between the company and the SFO meant that G4S could continue to be considered as a government supplier.
The agreement applied only to the potential criminal liability of G4S Care and Justice Services as a company, and not whether any liability attaches to any employees or former employees.
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