Law360, London (May 24, 2021, 6:19 PM BST) -- A Serious Fraud Office investigation into potential fraud at Sanjeev Gupta's businesses is focusing on Wyelands Bank, the governor of the Bank of England said on Wednesday, after the prudential regulator forced the steel mogul's U.K. lender to repay depositors.
Andrew Bailey told the House of Commons Treasury Committee that the Prudential Regulation Authority, the central bank's regulatory arm, has handed over evidence to the U.K.'s white-collar crime agency about Wyelands Bank, which Gupta established in 2016.
Bailey said the watchdog initially became concerned about the lender in late 2018 and decided to launch a supervisory probe into a lack of...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!