UK’s fraud agency probes Gupta business links with Greensill


LONDON — Britain’s Serious Fraud Office says it is investigating suspected fraud, fraudulent trading and money laundering within the business empire of Liberty Steel owner Sanjeev Gupta, including its financing arrangements with bankrupt Greensill Capital U.K..

Because this is a live investigation, the fraud office said Friday that it will not be providing any further comment into its probe into the activities of businesses within the Gupta Family Group Alliance.

Gupta’s companies were among the main clients of Greensill Capital before it collapsed earlier this year. Its reliance on Greensill caused many to worry that it might itself be at risk following the finance firm’s demise.

The relationship has been in the spotlight over the past few weeks, with former Prime Minister David Cameron caught up in a chain of contacts between government ministers, civil servants and Greensill, which collapsed in March.

The bankruptcy forced the owner of Liberty Steel, which employs about 5,000 people, to seek a British government bailout. Greensill was one of the company’s key financial backers.

On Thursday, Cameron testified before lawmakers on his activities at Greensill, which included lobbying the government in the early days of the coronavirus pandemic.

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