The Chancellor has insisted the Treasury acted “entirely appropriately” in its handling of David Cameron’s lobbying on behalf of Greensill Capital. Rishi Sunak said the issue “did not take up a very significant part of my time” or that of officials but it was “right to listen to Greensill’s initial proposal.” Cameron lobbied for the…
Treasury Acted ‘Entirely Appropriately’ Amidst Lobbying by Former Prime Minister: Sunak
David Cameron ‘Made More Than £7 Million’ From Greensill Capital
Former Prime Minister David Cameron is reported to have made $10 million (£7.2 million) from Greensill Capital before the company collapsed in March. Cameron was revealed to have made $4.5 million (£3.25 million) after cashing in shares from the company in 2019, and a salary of roughly one million dollars a year for work as…
Lobbying Rules ‘Insufficient’ in Light of Cameron’s Greensill Efforts, Say MPs
Lobbying rules were “insufficient” in the face of David Cameron’s bidding on behalf of failed finance firm Greensill Capital, and should be strengthened, MPs have said. The former Conservative prime minister placed calls and sent dozens of texts and emails to ministers and senior officials as he tried to win access to COVID support programmes…
Greensill Gave 6 Government-Backed Loans to Sanjeev Gupta’s GFG on Same Day
Six of the seven loans that Greensill Capital gave to Sanjeev Gupta’s business empire were provided on the same day, new documents show.The six loans could cost the taxpayer up to £240 million and were so concerning to officials that they paused all government-backed lending by Greensill just days later. During the COVID-19 pandemic the…
Accountancy Watchdog Investigates Auditors for Greensill Capital and Gupta Lender
Investigations into the auditors of Greensill Capital and Wyelands Bank have been launched, the UK’s accountancy regulator announced on Monday. The Financial Reporting Council (FRC) said its Enforcement Division had started an investigation into accounting firm Saffery Champness in relation to its audit of the financial statements of Greensill Capital (UK) Limited for the year ending…
UK Fraud Agency Probes Liberty Steel Owner’s Greensill Links
LONDON—The business empire of Liberty Steel owner Sanjeev Gupta, including its financing arrangements with bankrupt Greensill Capital UK, is being investigated by Britain’s Serious Fraud Office, the agency said Friday. The SFO said in a statement that it is investigating suspected fraud, fraudulent trading, and money laundering within Gupta Family Group Alliance, including links to…
Former UK PM Cameron Denies ‘Generous’ Package Motivated Greensill Lobbying
LONDON—David Cameron, the former British Prime Minister, said on Thursday he was not motivated by his own financial interest when he lobbied the government on behalf of the now-collapsed supply chain finance firm Greensill Capital. Although Cameron’s extensive lobbying efforts did not result in policy changes, they have raised questions about the extent to which…
UK Government Doubles Down on Lobbying Defence
LONDON—Britain’s government doubled down on its defence against accusations of cronyism on Sunday, arguing that former leader David Cameron’ failure to get support for finance firm Greensill Capital showed its lobbying rules were “pretty good”. Questions over whether former ministers and civil servants are granted easy access to the Conservative government have been raised by…
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