The Office of Serious Fraud is launching an investigation into Gupta’s GFG
The UK Office of Serious Fraud has opened an investigation into alleged fraud, fraudulent trade and money laundering in the Sanjeev Gupta metal empire, including its relationship with Greensill Capital.
The SFO said it was “examining the financing and business conduct of the Gupta Family Group Alliance (GFG), including its financing agreements with Greensill Capital UK”.
The anti-graft agency has come under pressure to investigate Gupta’s steel conglomerate after the Financial Times reported that Gupta had revealed suspicious bills to Greensill in exchange for the money. Gupta has denied the wrongs and Greensill was not forced to check the bills.
Politicians including Tory MP Richard Fuller have publicly called on the SFO to step in.
The GFG Alliance employs 35,000 people in metalworking plants from Wales to Australia.
This story is developing. . .