The Serious Fraud Office has said it is investigating steel tycoon Sanjeev Gupta’s business empire – including links with Greensill Capital.

The SFO said in a statement said it was looking into “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)”.

It said the investigation included GFG’s financing arrangements with Greensill Capital, the lender which collapsed earlier this year.

GFG said in a statement that it would cooperate fully with the investigation.

The announcement comes a day after former prime minister David Cameron faced intense scrutiny by MPs over his lobbying on behalf of Greensill over access to a Bank of England emergency business support scheme set up at the onset of the coronavirus crisis.

Mr Gupta’s GFG Alliance controls Liberty Steel, whose 3,000 workers have been facing uncertainty since Greensill’s demise.

Last month the tycoon pledged in a Sky News interview that, on his watch, none of his steel plants would close.

Separately, the Financial Conduct Authority said earlier this week that it was investigating the UK operations of Greensill.

Related posts:

Whitbread in firing line over pandemic bonus deferrals Ted Baker puts brave face on pandemic sales slump COVID roadmap delay, online car auctions and the rise in restaurant meal kits Average UK house price surges by 10% and nears record high Black Friday boost expected as anxious shoppers stock up early for Christmas Pandemic not in ‘rear view mirror’ for hospitality sector, pubs boss tells PM UK growth slows as GDP edges closer to pre-pandemic levels Frozen turkeys in short supply (but beer stocks are excellent), industry data shows Are you in line for a cut to your bill? Water company performance penalties are revealed Labour shortages: which jobs are seeing the biggest rise in demand? ‘Chicken King’ seeks £50m in funding amid supply chain crisis One million adults in UK went entire day without food last month