UK to investigate Greensill Capital as former PM David Cameron faces criticism over lobbying

  • Cameron, who led the U.K. from 2010 to 2016, reportedly sent text messages about Greensill to ministers including Finance Minister Rishi Sunak.
  • The investigation will be led by legal expert Nigel Boardman.
  • Cameron began working as an adviser to Greensill in August 2018.

LONDON — The U.K. government on Monday announced plans to open an independent investigation into Greensill Capital following former Prime Minister David Cameron's efforts to lobby ministers on behalf of the financial firm.

"The Cabinet Office is commissioning an independent review on behalf of the prime minister to establish the development and use of supply chain finance and associated activities in government and the role Greensill played in those," Prime Minister Boris Johnson's spokesperson told reporters, according to Reuters.

"This independent review will also look at how contracts were secured and business representatives engaged with government," he said, adding the prime minister wanted it to be concluded promptly.

The investigation will be led by legal expert Nigel Boardman.

Cameron, who led the U.K. from 2010 to 2016, reportedly sent text messages about Greensill to ministers including Finance Minister Rishi Sunak.

Cameron began working as an adviser to Greensill after leaving office in August 2018. The company collapsed into administration last month

The former Conservative Party leader has denied that he broke any rules over the matter nor any code of conduct. In his first comments in weeks over the scandal, Cameron on Sunday conceded that he should have contacted government ministers through formal channels, saying there were "important lessons to be learnt."

Cameron said he had been trying to get money for Greensill through a government-backed emergency loans scheme that was set up to help firms affected by the coronavirus pandemic.

The government declined to support Greensill through its "Covid Corporate Financing Facility."

Source: Read Full Article