This one snared David Cameron, ex-PM of the UK. He was lobbying for loans for this outfit from the UK government. The company claimed to have "AI" systems that saved money in supply chain management but really it was just a spreadsheet.
It seems like if you can secure loans from the government for a company, they you can simply "belly-up" the company and steal all the money, being a government sting nobody in government wants to pursue it, so it all gets forgotten, you do some kickbacks, everyone's a winner. Corruption.
Greensil seems to essentially purchase materials for your business, lending you the money for a period. They then buy the stuff but don't pay for it for 90 days while you pay them interest on the same money during that period. It is a way to make money from the large sums government spends but delaying settlement with the vendor. (Typically a government buyer pays promptly, here Greensil gets the benefit of holding the money while the vendor has to wait for the cash).
When Cameron shat himself I had a right proper wowsers in my trousers. That man deserves everything he gets. Named by Brian Harvey in his video too. I'm also certain 'left his kid at the pub' was a code for something else.
This one snared David Cameron, ex-PM of the UK. He was lobbying for loans for this outfit from the UK government. The company claimed to have "AI" systems that saved money in supply chain management but really it was just a spreadsheet.
It seems like if you can secure loans from the government for a company, they you can simply "belly-up" the company and steal all the money, being a government sting nobody in government wants to pursue it, so it all gets forgotten, you do some kickbacks, everyone's a winner. Corruption.
Greensil seems to essentially purchase materials for your business, lending you the money for a period. They then buy the stuff but don't pay for it for 90 days while you pay them interest on the same money during that period. It is a way to make money from the large sums government spends but delaying settlement with the vendor. (Typically a government buyer pays promptly, here Greensil gets the benefit of holding the money while the vendor has to wait for the cash).
When Cameron shat himself I had a right proper wowsers in my trousers. That man deserves everything he gets. Named by Brian Harvey in his video too. I'm also certain 'left his kid at the pub' was a code for something else.