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The Greensill scandal was a political controversy in the United Kingdom related to lobbying activities on behalf of financial services company Greensill Capital. It implicated former Prime Minister David Cameron , former Cabinet Secretary Jeremy Heywood and several other civil servants, and occurred during the COVID-19 pandemic .
Alexander David "Lex" Greensill CBE (born 29 December 1976 [1]) is an Australian former businessman best known for being the founder of Greensill Capital, a company focused on supply chain finance and derivative financial products that on 8 March 2021 filed for insolvency protection [2] and faced legal scrutiny.
Greensill's demise has caused red faces for the investors who back it, banks that worked with it, and sparked a political crisis in Britain. Greensill Capital scandal: What you need to know as ...
Watch: Financier Lex Greensill claimed to be 'senior adviser' to David Cameron, business card handed to Labour shows (Reporting by Aakriti Bhalla in Bengaluru and additional reporting by Sarah ...
Greensill began to unravel last Monday when its main insurer stopped providing credit insurance on $4.1 billion of debt in portfolios it had created for clients including Swiss bank Credit Suisse.
An investigation by the Sunday Times alleged that Lex Greensill enriched himself through a Government-backed loan scheme.
Greensill Capital was a financial services company based in the United Kingdom and Australia. Its main business was the provision of supply chain financing and related services. The company was founded in 2011 by Lex Greensill. It filed for insolvency protection on 8 March 2021. [2]
The demise of Greensill Capital jeopardised 5,000 steelmaking jobs in the UK.