Sunday, 26 June 2011

Severn Trent faces paying £10m customer windfall

Severn Trent Water, the first utility company in UK history to be convicted of criminal fraud, faces handing over another eight-figure sum to its 3m bill-paying customers.

Following a long campaign by Financial Mail and a lengthy Serious Fraud Office investigation, the company was fined £2m at the Old Bailey last week.
Severn Trent had already paid out £42m in 2006 to recompense customers over a massive fraud first revealed by Financial Mail.
It was fined another £35m by water industry regulator Ofwat earlier this year and now faces a demand from the watchdog to hand more money back to its customers.

No comments:

Post a Comment