we have discovered that greensill allowed 11 of mr gupta s companies to borrow against invoices that didn t exist. another gfg company, liberty commodities, was supposed to provide actual invoices for sales that had already happened. but earlier this year, it was reported that six of the invoices might be forgeries. these invoices, they say, you know, sanjeev gupta s company sold this amount of metal to this company on this date, you know, black and white it s pretty clear. we contacted some of these companies and many of them said, we ve never traded with sanjeev gupta. you know, not even that this specific invoice is incorrect, sort of, we ve never done business with him at all. sanjeev gupta said the story was misleading and damaging. but panorama has obtained more invoices his company submitted to greensill.
in some cases, and i m gonna make them magically profitable and at the same time i m gonna 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.
unusual payments. investors had no idea how dangerous the situation had become. in may 2020, the finance officer waves a clear red flag. they send this email suggesting an insolvency practitioner should be sent in to review mr gupta s businesses. they say. it may well be that administration is required. lex greensill denied being aware of a recommendation
greensill allowed 11 of mr gupta s companies to borrow against invoices that didn t exist. another gfg company, liberty commodities, was supposed to provide actual invoices for sales that had already happened. but earlier this year, it was reported that six of the invoices might be forgeries. these invoices, they say, you know, sanjeev gupta s company sold this amount of metal to this company on this date, you know, black and white it s pretty clear. we contacted some of these companies and many of them said, we ve never traded with sanjeev gupta. you know, not even that this specific invoice is incorrect, sort of, we ve never done business with him at all. sanjeev gupta said the story was misleading and damaging. but panorama has obtained more invoices his company submitted to greensill.
was about these unusual payments. investors had no idea how dangerous the situation had become. in may 2020, the finance officer waves a clear red flag. they send this email suggesting an insolvency practitioner should be sent in to review mr gupta s businesses. they say. it may well be that administration is required. lex greensill denied being aware of a recommendation