The UK’s Serious Fraud Office is investigating suspected fraud, fraudulent trading and money laundering by the businesses of Sanjeev Gupta including dealings with Greensill Capital.
The SFO said it would probe “the financing and conduct of the business of companies within the Gupta Family Group Alliance (GFG) including its financing arrangements with Greensill Capital UK”.
Greensill, GFG’s biggest lender, collapsed in March, leaving Gupta’s metals empire struggling for survival and putting 35,000 jobs at risk globally. The SFO has been under pressure to investigate GFG after the Financial Times alleged Gupta exchanged suspicious invoices with Greensill for cash.
The SFO said it could provide no further comment because the investigation was live. Gupta has denied wrongdoing and Greensill was not obliged to check invoices.
