UK fraud investigators step up inquiry into Liberty Steel

LONDON (AP) — British fraud investigators have raided the U.K. offices of the GFG Alliance, owners of the country’s third-largest steelmaker. The move is part of an investigation into possible fraud and money laundering related to financing from a now-bankrupt lender with ties to former Prime Minister David Cameron. The Serious Fraud Office opened an investigation last year after Greensill Capital’s collapse forced the owner of Liberty Steel, which employs thousands of staff in the U.K., to seek a government bailout. British media have reported that Cameron lobbied government officials, including Treasury chief Rishi Sunak and then-Health Secretary Matt Hancock, on behalf of Greensill.