Manchester — Sanjeev Gupta’s plans to save his sprawling metals empire were mired in confusion on Saturday as a financial backer sent mixed messages about its support in the wake of a UK fraud probe.
On Friday the Serious Fraud Office (SFO) launched an investigation into possible fraud and money laundering at Gupta’s GFG Alliance. That initially prompted White Oak Global Advisors — which had recently offered loans to his UK steel businesses and one of his Australian units — to say it wasn’t in a position to continue discussions with a company facing a probe...
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