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| Gupta empire facing UK fraud probe over Greensill | Gupta empire facing UK fraud probe over Greensill |
| (32 minutes later) | |
| Sanjeev Gupta, head of the GFG Alliance | Sanjeev Gupta, head of the GFG Alliance |
| The business empire of Liberty Steel owner Sanjeev Gupta is under investigation by the Serious Fraud Office (SFO). | The business empire of Liberty Steel owner Sanjeev Gupta is under investigation by the Serious Fraud Office (SFO). |
| The probe is over suspected fraudulent trading and money laundering, including its financing arrangements with failed company Greensill Capital UK. | The probe is over suspected fraudulent trading and money laundering, including its financing arrangements with failed company Greensill Capital UK. |
| In a short statement, the SFO said: "As this is a live investigation, the SFO can provide no further comment." | In a short statement, the SFO said: "As this is a live investigation, the SFO can provide no further comment." |
| Greensill, a major lender to Mr Gupta's business, collapsed last month. | Greensill, a major lender to Mr Gupta's business, collapsed last month. |
| A representative of GFG Alliance, Mr Gupta's family conglomerate, said the group had no immediate comment on the matter. | A representative of GFG Alliance, Mr Gupta's family conglomerate, said the group had no immediate comment on the matter. |
| GFG Alliance employs 35,000 people at companies stretching from Wales to Australia. | GFG Alliance employs 35,000 people at companies stretching from Wales to Australia. |
| The company's reliance on Greensill caused many to worry that it might itself be at risk following the finance firm's demise. | |
| On Thursday, former prime minister David Cameron, who worked for Greensill and lobbied government on its behalf, appeared before MPs to answer questions about his role. |