The SFO is investigating suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business of companies within the Gupta Family Group Alliance (GFG), including its financing arrangements with Greensill Capital UK Ltd
The probe will cover the financing arrangements with Greensill, the supply chain financing lender which went into administration in March.
GFG’s main business interest in the UK is the Liberty Steel group which employs around 3,000 staff and there are ongoing talks about refinancing the steel conglomerate.
As this is a live investigation, the SFO can provide no further comment.
GFG has denied all the claims.
The SFO is a specialist, independent law enforcement agency set up by parliament and overseen by the Attorney General, forming part of the criminal justice system with jurisdiction in England, Wales and Northern Ireland. The agency’s mission is to tackle only the most complex and serious cases of fraud, bribery and corruption and money laundering.