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
American Chambers of Commerce (Amcham) across Latin America are calling for urgent negotiations to prevent the escalation of trade tensions between their countries and the US, following the announcement of sweeping 50% tariffs by President Donald Trump.
Global aluminium producer Alcoa has already diverted 100,000 tonnes of Canadian metal away from the US market in response to uncertainty about import tariffs with trade measures continuing to upend traditional trade flows and pushing the company to rethink its global supply strategy, its chief executive officer said.
The publication of the affected price was delayed for 3 hours and 8 mins. The affected price was: MB-AL-0343 Aluminium P1020A (MJP) spot premium, cif Japan, $ per tonne This price is a part of the Fastmarkets aluminium Asia-Japan package. For more information, or to provide feedback on the delayed publication of this price, or if […]
LME copper prices took a significant hit following US President Donald Trump's announcement of a potential 50% tariff on copper imports. The uncertainty surrounding the timeline and implementation of the tariff has left market participants hesitant, with analysts noting its immediate impact on price momentum and trading activity.
Fastmarkets has launched MB-AL-0424 Aluminium P1020A premium, fob Indonesia, $/tonne on July 9 due to an expected increase in Indonesia-origin aluminium exports. MB-AL-0424 Aluminium P1020A premium, fob Indonesia, $/tonneQuality: P1020A or 99.7 % Minimum Al purity (Si 0.10% max, Fe 0.20% max) in line with LME specifications. Ingot, T-bar, sowQuantity: Min 500 tonnesLocation: FOB IndonesiaTiming: […]
Tariff concerns and opaque import regulations dominated discussions among aluminium and copper scrap market participants at the 2025 ASEAN Recycling Metals International Conference held in Thailand on June 18-20.