THE business empire of Liberty Steel owner Sanjeev Gupta is facing an investigation by the Serious Fraud Office, including its links to failed finance company Greensill Capital.

The SFO is looking into suspected fraudulent trading and money laundering at companies in the GFG Alliance.

It will include the links to Greensill, which entered administration earlier this year.

“The SFO is investigating suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business of companies within the Gupta Family Group Alliance (GFG), including its financing arrangements with Greensill Capital UK Ltd,” the investigators said in a statement.

They added: “As this is a live investigation, the SFO can provide no further comment.”

Gupta’s companies were among the main clients of Greensill Capital before it collapsed earlier this year.

GFG’s reliance on Greensill caused many to worry that it might itself be at risk following the finance firm’s demise.

Earlier this week Greensill founder Lex Greensill and David Cameron, who lobbied for the company, appeared before Parliament.