By Derek Kotz
Industrial reporter

THE BUSINESS empire of Liberty Steel owner Sanjeev Gupta is under investigation by the Serious Fraud Office (SFO), it was announced today.

The probe will include its dealings with the failed “supply chain finance” debt-trading company Greensill Capital, which collapsed spectacularly in March and is already facing scrutiny by the Financial Conduct Authority (FCA).

The Gupta Family Group Alliance (GFG) relied heavily on loans from Greensill, which crashed into administration after its insurers refused to extend cover on the loans it had made.