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Greensill: David Cameron ‘made $10m’ before company’s collapse

(BBC) – David Cameron made about $10m (£7m) from Greensill Capital before the finance company collapsed, documents obtained by BBC Panorama suggest.

The documents indicate the former prime minister received $4.5m after cashing in Greensill shares in 2019.

Greensill, which made its money by lending to businesses, went into administration in March, leaving investors facing billions in losses.

Mr Cameron’s spokesman said his remuneration was a private matter.

Greensill collapsed after its insurer refused to renew cover for the loans it was making.

Before its collapse, Mr Cameron unsuccessfully tried to persuade ministers to invest taxpayers’ money in Greensill loans.

He has since been cleared of breaking any lobbying rules, but MPs said the former prime minister showed a “significant lack of judgement”.

The details about Mr Cameron’s shares were revealed in a letter from Greensill Capital to the former prime minister.

According to the letter, Mr Cameron was going to be paid $4,569,851.60 (about £3.3m) after tax for a tranche of his Greensill shares.

Panorama has not seen Mr Cameron’s signed acceptance of the offer, but the letter records that he had already agreed to the deal.

As well as the shares, Mr Cameron received a salary of $1m (£720,000) a year as a part-time adviser.

The programme also understands that the former prime minister was paid a bonus of $700,000 (£504,000) in 2019 on top of his salary.

In total, it looks like he made around $10m before tax for two-and-a-half years’ part-time work.