The now defunct Wyelands Bank was acquired by Gupta Family Group Alliance (GFG Alliance) run by Sanjeev Gupta in 2016, and the audit breaches by PwC related to financial years 2015 to 2019. 

The bank had been in existence since 1980, but when it was acquired by the new beneficial owner in 2016, it became part of the GFG Alliance, an unconsolidated group of companies under common ownership, operating in a number of industries including steel, aluminium and renewable energy. In 2020, Wyelands faced strike off action and a voluntary liquidator was appointed in April 2024.

PwC had been auditor of the bank since it was first appointed in June 2014.