UK's fraud agency probes Gupta business links with Greensill

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The business empire of Liberty Steel owner Sanjeev Gupta including its financing arrangements with bankrupt Greensill Capital U.K., is being investigated by Britain's Serious Fraud Office the agency said Friday. The SFO said in a statement that it is investigating suspected fraud, fraudulent trading and money laundering within Gupta Family Group Alliance, including links to Greensill, the supply chain finance firm that went bankrupt earlier this year. Former Prime Minister David Cameron who acted as an adviser to Greensill that involved him lobbying his contacts in government and in the civil service, has been caught up in the fallout of the firm's bankruptcy, On Thursday, Cameron testified before lawmakers on his activities for Greensill, which he insisted was motivated by a desire to help support British workers and businesses “in the economic turmoil caused by COVID” and not by the prospect of making millions from his Greensill shares. The Financial Conduct Authority Britain's financial regulatory body, has already announced a formal investigation into Greensill’s collapse after receiving allegations that it said were “potentially criminal in nature.” The Financial Times newspaper has previously reported that Gupta’s companies handed suspicious invoices to Greensill, which the finance company paid for.