ONE of Britain’s worst rail firms has been fined ￡23.5million after former directors hid taxpayer cash to bump up bonuses.
Govia was hit with the huge penalty six months after being stripped of the Southeastern franchise.
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Former directors of Govia hid taxpayer cash to bump up bonuses
The service was effectively nationalised after officials at the Department for Transport found public funds used to help run the country’s first high speed rail line had not been paid back.
Whitehall chiefs recovered ￡25million which had been “deliberately concealed” in accounts since 2014, inflating the rail firm’s balance sheet.
The penalty is on top of ￡64million recovered from London and South Eastern Railway Limited for breaching franchise terms.
Transport Secretary Grant Shapps said: “I took decisive action following this appalling breach of trust. LSER’s behaviour was simply unacceptable.”
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Southeastern was run by Govia, a joint venture between Go-Ahead Group and Keolis.
A Go-Ahead spokesman said: “We accept this penalty.
"Since these events came to light the group is under new leadership.”
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