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
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.
The automotive industry's embrace of the pioneering steelmaking technology of tailored welded blanks to make hot stamped door rings has reached a break-out point with annual output volumes expected to double over the next five years
Fastmarkets’ 2025 outlook for key raw materials and ingredients used in the production and distribution of fast-moving consumer goods.
CBAM creates a new frontier of opportunity for low-emissions producers who can offer cost-effective, sustainable alternatives.