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Following the scandal-plagued former Prime Minister David Cameron following the bankruptcy of financial company Greensil, it is up to steel magnate Sanjeev Gupta to explain himself. British investigators are investigating the nature of the activities linking the family group and the now bankrupt company. In need of funding, has the British steel giant of Indian origin used fraud to obtain millions of pounds from the financial company Greensil? The investigation has just started.
Already owing to lack of cash, Gupta Family Group is now suspected of fraud, fraudulent commerce and money laundering in the conduct of its business.
There are no details on the alleged fraud, but the group’s financial relationship with Greensill (of which he was one of the main customers) is at the center of a “Serious Fraud Office” investigation.
According to local daily financial Times, Suspected invoices were provided to Greensil in exchange for money allegedly by the Gupta group.
A practice that looks like a fraud some British MPs believe points to a funding model ” Highly suspicious “similar” Pyramid fraud »
Sanjeev Gupta’s group denies any wrongdoing and promises ” Cooperate fully with the investigation ».
The spotlight on corruption was praised by the NGO for prompt action by the British justice system, according to a demonstration that the evidence of embezzlement is fairly convincing.
The Symbol Group, created by purchasing companies in difficulty, is now in turmoil by itself. It is seeking new funds to protect factories supporting 35,000 people worldwide from closure. And given the circumstances, one cannot believe that the British government, suspecting the management of the group, approaches him.