foto: CC BY-SA 4.0 / Wikimedia commons/Sanjeev Gupta
The Ostrava steel plant is once again in the spotlight. This time, it's steel magnate and Liberty Steel owner Sanjeev Gupta who has caused a stir. He is currently under investigation by British authorities.
British businessman Sanjeev Gupta, originally from India, faces multiple criminal charges. According to the UK’s Companies House, Gupta failed to submit 76 financial statements for his companies, which are part of his Gupta Family Group Alliance (GFG Alliance), as reported by Denik.cz.
"Among Gupta's companies with missing accounts is Liberty Commodities, which he founded in the 1990s," writes the Financial Times. This company, along with several other businesses, including Liberty’s steel plants in Ostrava, is part of Liberty Steel, a group specializing in metal processing that holds significant influence over the steel industry in Europe, according to Seznam Zprávy.
Gupta maintains his innocence, claiming he has done nothing wrong. However, he faces several charges. A spokesperson for the UK's Companies House confirmed that "legal steps have already been taken to enforce compliance," though no further details were shared.
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A spokesperson for GFG Alliance speaking on behalf of all five managers stated, "There are no major issues with our accounting, and we have taken all reasonable steps to resolve the situation."
"In 2021, the Serious Fraud Office (SFO) launched an investigation into the Gupta Family Group Alliance (GFG Alliance) over suspicions of fraud, fraudulent trading, and money laundering related to the financing and operations of the company. A year later, the SFO further intensified its investigation," reports Seznam Zprávy, outlining Gupta's legal history.
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