Greensill Capital – Financial Treason & Crime

Alistair MacDonald and Duncan Mavin, 03 April 2021

The business empires of metals magnate Sanjeev Gupta and financier Lex Greensill leaned on each other to fuel their growth. But for years executives and advisers close to both entrepreneurs urged the two men to decouple their businesses, according to people familiar with the matter.

They failed to do so. Now Mr. Greensill’s firm, Greensill Capital, is insolvent, and Mr. Gupta’s conglomerate, GFG Alliance, is scrambling to survive. Continue reading “Article: Greensill and Gupta’s Intertwined Empires Had for Years Raised Concerns Internally”

03/31/2021

Article: Influential UK Standards Watchdog Targets Cameron’s Greensill Lobbying

Article - Media, Publications

Influential UK Standards Watchdog Targets Cameron’s Greensill Lobbying

TYLER DURDEN, 31 March 2021

By now, the British media has been inundated with reports about the special access afforded Greensill Capital, the trade-finance firm that collapsed and filed for administration three weeks ago after its main insurer declined to renew policies on some of Greensill’s assets, setting off a chain reaction that ensnared some of Europe’s biggest banks (including the embattled Credit Suisse, which is simultaneously fighting off another scandal in the Archegos Capital blowup).

And many of these stories have focused on the firm’s relationship with former Prime Minister David Cameron, who was hired as a senior advisor by the firm after he left No. 10 Downing Street. Cameron continued to lobby on the firm’s behalf, even after the michegas at GAM a few years back that led to the departure of star trader Tim Haywood, one of the most high-profile investors in London. It was reported that alleged misconduct attributed to Haywood had to do with his investments in Greensill paper – paper that was reportedly tied to Sanjay Gupta’s GFG Alliance group of companies, who have also emerged as main characters in the collapse of a group of Credit Suisse funds (the bank is now tallying client losses and even weighing the possibility of reimbursing some of its more important clients who have threatened to take their business elsewhere). Continue reading “Article: Influential UK Standards Watchdog Targets Cameron’s Greensill Lobbying”

03/24/202103/25/2021

Article: SEC Confirms Probe of SoftBank

Article - Media, Publications

SEC Confirms Probe of SoftBank

Michelle Celarier, 24 March 2021

SoftBank is the subject of an active investigation by the Securities and Exchange Commission, according to PlainSite, a legal transparency initiative.

The research provider on Wednesday shared the SEC’s response to a Freedom of Information Act request by Aaron Greenspan, the founder of PlainSite, a joint venture of Think Computer Corporation and Think Computer Foundation.

Greenspan said the SEC probe appears to be related to SoftBank’s trading unit, SB Northstar. He told Institutional Investor that news last year about SoftBank’s options trading triggered his initial FOIA request, which was dated December 2, 2020. Continue reading “Article: SEC Confirms Probe of SoftBank”