Gupta’s GFG Alliance addresses raided across Britain

Steel tycoon Sanjeev Gupta arrives at the Department for Business, Innovation and Skills in London, Britain in this April 5, 2016 file photo. REUTERS/Stefan Wermuth

LONDON, April 27 (Reuters) – Investigators have visited the UK addresses of the GFG Alliance of Indo-British steel tycoon Sanjeev Gupta, demanding documents such as balance sheets, annual reports and other correspondence, a the UK’s Serious Fraud Office (SFO) announced on Wednesday.

The SFO, which opened a criminal investigation into the Gupta Family Group Alliance (GFG) in May 2021 and led Wednesday’s operation, said investigators spoke to leaders at several addresses who had cooperated with the operation. ‘operation.

“As the investigation is ongoing, the SFO can make no further comment,” he said. A spokeswoman declined to comment on any activity in other jurisdictions.

GFG representatives were not immediately available for comment.

Last year, the SFO announced an investigation into suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of corporate business within GFG – also known as the group of Liberty House companies – including funding deals with Greensill Capital UK Ltd.

Greensill Capital filed for bankruptcy last year after losing insurance cover for its debt repackaging business. Read more

Reporting by Kirstin Ridley; Editing by Alex Richardson and Hugh Lawson

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