UK’s SFO to investigate GFG Alliance

The United Kingdom’s Serious Fraud Office is investigating the Gupta Family Group Alliance in relation to the organization’s financing arrangements, it said on Friday May 14.

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 Gupta Family Alliance, the SFO said in a public statement, adding that it would refrain from further comment due to the investigation being live.

A spokesperson for GFG Alliance said it would co-operate with the investigation.

What to read next
Spot demand for aluminium is softening and Rotterdam premiums now, at the end of September 2022, are at a nine-month low, so market participants are considering whether Europe remains an attractive destination for imports
Hydro will partially curtail aluminium production at Hydro Karmøy and Hydro Husnes in Norway, the company announced on Tuesday, September 27.
Conversations and panel discussions at the Institute of Scrap Recycling Industries Roundtables in Chicago on September 14-16 largely centered around market uncertainty and navigating complex geopolitical landscapes during a time of energy transition and low domestic demand
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday September 26, with the strong dollar and demand concerns still weighing on the market
Key talking points at Fastmarkets’ International Aluminium conference, held in Barcelona, Spain, on September 12-15
A tough winter is coming for the Aluminium industry, given high energy costs and falling demand, European aluminium market participants told Fastmarkets
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
Proceed