The Former Postmasters Had Lost Their Jobs, Been Forced To Pay Fines, And Serve Time In Prison Due To A Computer Error Alleging That They Were Stealing Money From The Post Office.

Over 500 former postmasters who were wrongfully suspected or accused of stealing money from the Post Office, are to receive £40,000 ($50,000) each in compensation following a better payout being offered.

The agreed settlement came after years of back and forwarding between the accused and the Post Office, who were wrongfully labelled criminals due to a simple computer error.

The new payout is anticipated to bring closure to some, who's livelihood was ripped away from them due to the error. 

Many former postmasters effected by the error were issued with hefty fines and some were even given prison sentences.

A minister has stated that: “The latest payments will be made within weeks”.  

Post Office chief executive Nick Read had previously been demanding more action from the government, stating that: “I want them to ensure a full, fair, and final compensation for all the victims of this computer error.