Publicly he will get a mild rebuke. Privately it's likely he'll be asked for a share in the takings. I guess there must be a Swiss Bank Account here and there, and a certain unwillingness to declare earnings to the IR.
It reminds one of the days of Roman Empire. The Emperor was the biggest criminal in town. That was the whole point in becoming Emperor.
I can see Prescott in a toga, grapes being fed, ostrich feathers fanning away the heat while he indulges his various tastes....oh yes and the occasional mild rebuke from a fearful Senate.
William Hague spoke no word against Prescott's politics, about regionalisation, and the recent collapse of regional police forces. He politely suggested to Prescott that he should consider resigning in the context of the sexual and unregistered corporate hospitality allegations. Hague knows where the real power in Britain resides and judiciously tiptoes around it.
Emperor Prescott did claim as follows, 'I would like to say that over those 35 years (his career in public service), I have never been employed in any other job, I have never received any payment from any other quarters....'
No one had mentioned that you were, Emperor John. No one was suggesting bribery, just a failure to register interests, hospitality and gifts. So why mention 'payments'? Please carry on with your shadow EU government of Britain, and breaking us up into regions. A little bribe here and there, and occasional illicit sex will hardly matter given the importance of your mission. Why worry? You'll get away with it.