Cameron presented Greensil’s services to a German government official

David Cameron brought supplier chain financing group Greensil Capital to a high-ranking official in the German government as his investigation into German banking gathered momentum.

Cameron is at the center of it Lobbying scandal More than Greensil Capital, whose German subsidiary Greensil Bank fell into insolvency last month.

A spokesman for the former prime minister of the United Kingdom told the Financial Times: “David Cameron took part in a virtual call with the German ambassador last November to discuss the introduction of the German civil service undergraduate with senior Greensil representatives.”

Arnold is a subsidiary of Greensil that allows employees to reduce their salaries in installments.

According to three people familiar with the matter, Cameron wanted a meeting with German Deputy Finance Minister Jগrg Cookiz last year. Cookies, a former senior banker at Social Democrat and Goldman Sachs, is in charge of financial market policy and European policy in Berlin. Cookies refused to meet, people said.

However, a spokesman for Cameron argued that he wanted a meeting and said: “In time [the embassy] Yesterday, the German ambassador proposed a meeting for the Greensil party with German Deputy Finance Minister Jগrg Cookies. The meeting did not take place and David Cameron had no say in proposing it or the process of organizing it. “

The embassy’s call came after German banking watchdog Buffin took action last November in an investigation into a banking subsidiary in Greensil.

The management of the bank is going on Crime investigation After German regulators began investigating it last year due to concerns Revealed To the huge Sanjeev Gupta business of British Steel

Documents related to Greensil published by the German Finance Ministry last month show that Buffin began “regular discussions with foreign oversight authorities” in January 2020 following a press report on “business relations between Greensil and the Gupta Group.”

Over the summer, the German regulator formed a “Greensil Task Force” to prepare a special audit of the bank after receiving tips from whistleblowers pointing to “various allegations of fraud” surrounding “false invoices”, the document found.

The probe eventually raised concerns about the level of exposure of Greensil Bank to companies linked to the metal magnet Gupta, which has received billions of euros in funding from billionaire donors. KPMG, which began auditing in September, also struggled to verify the existence of some invoices considering these financial arrangements, the FT previously reported.

Jগrg Cookies, German Deputy Finance Minister জার্ম Jason Alden / Bloomberg

Cameron began working as a payment consultant for the bank’s parent company – Greensil Capital – in 2018 and was offered a share option that could be worth several million pounds at some point.

He made her The first public statement Greensil said last weekend that he had “not played a role in raising credit or the conditions under which such credit was raised.” He said the value of his share options, which are now devalued after the company’s collapse, “was nowhere near the amount estimated in the press” but did not provide a specific figure.

Cookies and the German finance ministry declined to comment. Greensil Capital did not immediately respond to a request for comment. Greensville Administrator Grant Thornton declined to comment. The German Foreign Ministry did not immediately respond to a request for comment.

Cameron’s contacts with German officials have not been known before, and a growing investigation into the former prime minister’s conduct on the Greensil case is likely to escalate.

Jens Zimmermann, Member of Parliament for the Social Democrats in Berlin, on the Bundestag Committee Fraud in the broken German payment company Wirecard, Said that “there is a parallel between the scams around Wirecard and Greensil.”

Zimmermann, vice-president of the German-British Parliamentary Friendship Group in the Bundestag, said the balance sheets had been rigged in both cases and “the widespread use of former politicians as door-openers is also evident”.

Cookies has faced criticism from opponents for visiting his own coalition partners, as well as Marcus Brown, then chief executive of Wirecard, at the company’s headquarters in Munich. The visit comes after the Financial Times launched a special audit into the accounting after allegations of fraud were made against the workcard.

Jens Zimmermann, Social Democrat MP and member of the Workcard Inquiry Committee ies Liasa Johansson-Koppiz / Bloomberg

Theft First published Before the finance company collapsed last month and left the taxpayer on the hook for potential losses, Cameron lobbied the UK government to increase access to Greensil Capital on state-backed emergency Covid-19 loan projects.

Cameron will now be summoned to provide evidence Multiple UK parliamentary inquiries Into the Greensil scandal

Buffin’s criminal charges against the management of Greensil Bank are for suspicious balance sheet manipulation, which carries a maximum penalty of three years in prison under German law.

Additional report by Guy Chajan in Berlin

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *