Lex Greensill Says His Investors Knew What They Were Buying
- Greensill Capital’s founder responds to lawmakers questions
- Future receivables were secured on real assets, he says
Photographer: Anthony Devlin/Bloomberg
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Lex Greensill told lawmakers that investors in loans packaged by his firm were aware of the risks and denied being a “fraudster” in his first public appearance since Greensill Capital collapsed into insolvency in March.
The former Morgan Stanley banker, who founded the eponymous firm in 2011, faced questions from the U.K.’s Treasury Select Committee, which is examining what lessons should be learned from the demise of the lender. Greensill told lawmakers that the vast majority of loans it made were backed by real assets, even those tied to sales that hadn’t yet occurred.