investigated by the serious fraud office. gfg alliance told us it takes the sfo investigation seriously and won t be commenting further while it s ongoing. 0ur evidence suggests investors have been misled. huge sums were invested in invoices that didn t exist. if you re taking somebody s money, and you re putting it into an investment, into an asset, then you should be open and honest and transparent about what that is. and in this case they were saying it was one thing but, actually, it was something else. investors are facing billions in losses. but lex greensill isn t short of cash. he took at least $40 millionout of his company ? and his family trust took millions more. the former prime minister also had a bumper payday. we ve obtained a greensill
of millions of pounds. david cameron s spokesman said he had no knowledge of gfg s financial situation. he made representations to the government because he sincerely believed there would be a material benefit for uk businesses at a challenging time. and two westminster inquiries have confirmed that he broke no rules. sanjeev gupta s company gfg alliance, and its financing arrangements with greensill capital, are now being
make them green. mr gupta s business the gfg alliance ? now employs 35,000 people around the world. including more than 4,000 at steel mills in the uk. he s become a key player in one of our most important industries. it s so remarkable what mr gupta has achieved here in ensuring a future for this steel mill. he grew his business by borrowing $5 billion dollars from greensill capital. once again, the cash came from investors who thought their money was secured against real invoices. but once again, that wasn t always true. we have discovered that
guarantee has been suspended but the suspension has been disputed so the government could still have to cough up government could still have to cough up £320 million because of this, then you have the serious fraud office investigation, including the 0ffice investigation, including the financing arrangement between sanjeev gupta and greensill. $5 financing arrangement between sanjeev gupta and greensill. san eev gupta and greensill. as part of sanjeev gupta and greensill. as part of panorama sanjeev gupta and greensill. as part of panorama you sanjeev gupta and greensill. as part of panorama you have sanjeev gupta and greensill. as part of panorama you have approached i sanjeev gupta and greensill. as part i of panorama you have approached the different parties, what are they saying? different parties, what are they sa inc? , ., , , different parties, what are they sa in? , ., ., different parties, what are they sa in.? , ., ,, ., ., saying? obviously we do the right to rel sa
position. taxpayer funds to bolster their osition. . ,., , taxpayer funds to bolster their osition. . .. , ., position. the taxpayer gave greensill position. the taxpayer gave greensill capital position. the taxpayer gave greensill capital £320 i position. the taxpayer gave i greensill capital £320 million, is there a real risk, do you think, to this money in taxpayer loans? the issue here this money in taxpayer loans? the issue here is this money in taxpayer loans? tie: issue here is that the british business bank, which is part of the government, gave guarantees to greensill capital. greensill capital then lend money to companies in the gfg alliance, which it appears greensill capital knew it would never be able to pay back those loans and in the circumstances, the british taxpayers on the hook to repay the £350 million. the government has said that it has revoked those guarantees and it does not think it should be on the hook and is now subject to a legal dispute between