Greensill Accessed COVID Loans 'Without Proper Checks'

By Najiyya Budaly (November 22, 2021, 11:52 AM GMT) -- Britain's state-owned bank for business development carried out "woefully inadequate" checks into Greensill Capital when the finance firm, which collapsed in March, applied to lend money to businesses struggling during the coronavirus pandemic, a parliamentary committee has said.

The loans issued by Greensill appeared to break the lending limit for a group of companies, a parliamentary committee has said. (iStock) The Commons Public Accounts Committee said that the British Business Bank has put up to £335 million ($450 million) of taxpayer money at risk by failing to carry out proper due diligence checks into Greensill Capital (UK) Ltd. The struggling supply-chain...

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