INVESTIGATIONS PILE UP

THE King & King probe is the latest relating to Sanjeev Gupta and his GFG Alliance.

In May 2021 the Serious Fraud Office launched a probe into suspected fraud and money laundering at GFG, including its arrangements with the now defunct Greensill Capital.

It last week raided offices to request documents including annual reports. Days earlier, French police visited the Paris offices of GFG, probing claims of ‘misuse of corporate assets’ and ‘money laundering’.

Business committee MPs queried in November whether Gupta was fit to run a steel firm. They urged him to restructure his businesses to make them more transparent.