Greensill accessed COVID loans “without proper verification”

By Najiyya Budaly (Nov 22, 2021, 11:52 a.m. GMT) – The state-run business development bank ran “pitifully inadequate” checks on Greensill Capital when the collapsed financial firm sought to lend money to companies that were hit during the coronavirus crisis. A parliamentary committee said that the pandemic had to fight.

The loans granted by Greensill appeared to exceed the credit limit for a group of companies, said a parliamentary committee. (iStock) The Commons Public Accounts Committee said the British Business Bank has put up to £ 335 million ($ 450 million) in taxpayers’ money at risk by failing to conduct proper due diligence on Greensill Capital (UK) Ltd -Chain…

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