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Sanjeev Gupta’s GFG denies wrongdoing amid French investigation
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Sanjeev Gupta’s business empire has denied wrongdoing in its French operations after it emerged that it is being investigated by prosecutors in Paris.
GFG Alliance, an informal group of metals and energy companies including Liberty Steel, has faced a litany of challenges since the collapse in March of its key lender, Greensill Capital.
The collapse triggered a scramble for a new source of financing for Gupta’s companies, as well as investigations by the UK’s Serious Fraud Office and German regulators.
GFG’s interests range from Liberty, a UK steelmaker that employs 3,000 people, to aluminium, mining and energy companies as far afield as Singapore, the US and Australia. The group says it employs as many as 35,000 people worldwide with combined
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