Officials’ ‘woefully inadequate’ checks on Greensill Capital could cost taxpayers £335million

, Officials’ ‘woefully inadequate’ checks on Greensill Capital could cost taxpayers £335million, The Today News USA

A state-run bank carried out ‘woefully inadequate’ checks on a lending firm advised by David Cameron, a panel of MPs said yesterday.

They accused the British Business Bank of putting £335million of public cash at risk by failing to vet Greensill Capital.

Dame Meg Hillier, Labour chairman of the Commons public accounts committee, said: ‘The British Business Bank only had to read the papers to be aware of serious questions about Greensill’s lending model, over-exposure to borrowers and its ethical standards.’ 

, Officials’ ‘woefully inadequate’ checks on Greensill Capital could cost taxpayers £335million, The Today News USA

, Officials’ ‘woefully inadequate’ checks on Greensill Capital could cost taxpayers £335million, The Today News USA

Greensill Capital was a financial services company based in the United Kingdom and Australia and went bust earlier this year

, Officials’ ‘woefully inadequate’ checks on Greensill Capital could cost taxpayers £335million, The Today News USA

, Officials’ ‘woefully inadequate’ checks on Greensill Capital could cost taxpayers £335million, The Today News USA

, Officials’ ‘woefully inadequate’ checks on Greensill Capital could cost taxpayers £335million, The Today News USA

, Officials’ ‘woefully inadequate’ checks on Greensill Capital could cost taxpayers £335million, The Today News USA

The Greensill affair and the pressure exerted by former Prime Minister David Cameron, right, on the authorities have shown the inadequacy of the rules governing lobbying in the UK. Left, Labour chairman of the Commons public accounts committee Dame Meg Hillier

, Officials’ ‘woefully inadequate’ checks on Greensill Capital could cost taxpayers £335million, The Today News USA

The MPs’ report is the latest in a series of investigations carried out into the activities of Greensill before it went bust earlier this year.

It specialised in paying suppliers early then recouping the money from their customers.

Former PM Mr Cameron made approaches to the Treasury and Bank of England on its behalf.

The BBB insisted it had been right to fast-track vetting during the pandemic.