French prosecutors widen investigation into Sanjeev Gupta's GFG group

French authorities have opened an investigation into Sanjeev Gupta's business empire, the Financial Times reported on Sunday citing the Paris Prosecutor's Office. The Prosecutor's Office told the newspaper that it was probing Gupta's French operations over allegations of "misuse of corporate assets" and "money laundering".

The investigation was launched in July after suspicious activities were reported by public officials, the FT said.

GFG said it was "not aware of any such investigation and refutes any suggestion of wrongdoing in its French operations".

Public officials flagged Gupta's deal with commodities trader Glencore Plc to fend off a takeover attempt by US