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As another comment pointed out, FT has been covering the issue much more in depth. They've been covering Greensill and GPG since 2018. The two seem to have a...
by ahepp 6y ago
As another comment pointed out, FT has been covering the issue much more in depth. They've been covering Greensill and GPG since 2018. The two seem to have a... special... relationship.
As far as I'm aware, it's more along the line of your bank giving you a mortgage for x10 your appraisal, which is definitely going to put you in the hot seat when the bank gets put under the spotlight.
>This is one of the reasons that financial audits typically include a letter sent to random customers asking to confirm whether the balance of their account or loan matches the value recorded in the bank's system.
Interesting to point this out in the context of multi-billion dollar Wirecard fraud, which FT also covered. EY was their auditor, and apparently never took this basic step.