The Official Report is a written record of public meetings of the Parliament and committees.
All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
All Official Reports of public meetings of committees.
Displaying 3876 contributions
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
Which year’s accounts were those?
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
Why has it been five years and you still do not have auditors in place?
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
You mentioned the Serious Fraud Office investigation, which I think goes back to 14 May 2021, so it is a long-standing investigation. My reading is that the SFO usually investigates only what it describes on its website as the most
“serious and complex fraud, bribery and corruption cases.”
Is that what it is investigating here?
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
However, it is a matter of public record that the headings of investigation that the SFO has are serious fraud, fraudulent trading and money laundering.
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
Is the investigation only in relation to Greensill Capital, or is it about the relationship with the GFG Alliance?
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
So, you do not know what the charges or the suspicions are, because the SFO is at the stage of suspicion and investigation.
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
Okay—you are the correspondent.
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
Where does Mr Sanjeev Gupta sit in this?
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
I have one final question before I bring in the deputy convener. It concerns a historical issue that will have occurred before your time, Mr Kabel—perhaps Ms Lambert can help. A document that was produced in 2016 by EY—formerly Ernst & Young—on the business case for the arrangement between the Scottish Government and the GFG Alliance discussed the borrowings that the SIMEC Group had at that time, which were $21.3 million due to B&N Bank Russia; $25 million due to International Bank of St Petersburg, secured against receivables; and $34 million due to Greensill Capital Ltd, which was an unsecured loan. I take it that you no longer have financial relationships with Russian financial institutions. Is that correct?
Public Audit Committee [Draft]
Meeting date: 25 February 2026
Richard Leonard
Okay. So, as far as that issue is concerned, you think that you are above board and kosher.