The business empire of Liberty Steel owner Sanjeev Gupta is under investigation by the Serious Fraud Office (SFO) over suspected fraudulent trading and money laundering.

The SFO said it was probing suspected fraudulent trading and money laundering at companies within the Gupta Family Group Alliance (GFG).

Investigators will also look at his financing arrangements with the failed finance company Greensill Capital – in the spotlight over David Cameron’s lobbying activities.

“The SFO is investigating suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business of companies within the GFG, including its financing arrangements with Greensill Capital,” the SFO said in a statement on Friday.

Mr Gupta’s companies were among the main clients of Greensill before it collapsed in March this year. GFG’s reliance on Greensill caused many to worry that it might be at risk following the finance…

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