SFO launches money laundering probe into Gupta family over ties to Greensill Capital
HMichiel Willems, 14 May 2021
The Serious Fraud Office (SFO) said this morning it is launching an investigation into the Gupta Family Group Alliance.
“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 watchdog said in a statement shared with City A.M.
“As this is a live investigation, the SFO can provide no further comment,” it added.
In a statement, the company responded: “GFG Alliance notes the UK Serious Fraud Office’s announcement that it has opened an investigation into GFG Alliance. GFG Alliance will co-operate fully with the investigation.”
Turbulent week
The SFO investigation follows a turbulent week for Greensill investors, after David Cameron told MPs he was paid ‘generous amounts’ by the firm. “I was paid an annual amount, a generous annual amount – far more than I earned as prime minister,” the former prime minister said.
Cameron told Westminster’s Treasury Select Committee that his almost 60 emails, texts and Whatsapp messages to figures like Rishi Sunak to curry favour for Greensill’s application to an emergency funding scheme was not because the firm was in danger of going bust.
