Guptas investigated by FBI and UK watchdogs

UK authorities are investigating the possible Gupta-linked transactions involving HSBC and Standard Chartered, while the US probe focuses in part on Gupta nephews living in the US.

Chancellor of the Exchequer Phillip Hammond said that he had passed concerns raised by Peter Hain on to the Financial Conduct Authority, the Serious Fraud Office and the National Crime Agency.

No accusations have been claimed against the banks of wrongdoing but Hain has asked that evidence from whistle-blowers and other sources be investigated.

The Gupta family has been kept at close attention by the police and investigators as they have been leaving question marks with all businesses formed with large companies.

They were recently linked to a corrupted business wrongdoing with the big international accounting and auditing firm KPMG which as suffered a huge loss of international and local clients.

In the US, investigators have begun probing people, the bank accounts and companies in the US for ties to alleged graft involving the family as well as people familiar with the matter.

The US probe is mostly focusing in part on US citizens Ashish and Amol Gupta.

Nothing illegal has been confirmed from their business with the KPMG or HSBC. More news will be reported on the progress of the case and the recent investigations conducted.

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