GFG Faces French Criminal Probe Amid Fraud Scandal

By Bonnie Eslinger (November 8, 2021, 7:05 PM GMT) -- A global business controlled by British metal mogul Sanjeev Gupta is being investigated by France's anti-corruption office for alleged misuse of corporate assets and money laundering, according to the Paris Prosecutor's Office.

The probe concerns various operations within GFG Alliance, which is owned by Gupta, and began in July, a spokesperson for the prosecutor's office said Monday.

A GFG Alliance spokesperson told Law360 that the company is "not aware of any such investigation and refutes any suggestion of wrongdoing in its French operations."

News of the French investigation follows a scathing report from Parliament's business committee last week about Gupta's leadership...

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