INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).
Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c
According to a national newspaper,two Nigerians namely Magnus Ikechukwu Kamah 38,and Ndubusi Sunday Okeke 34,have been arrested and charged in South African after an attempted fraudulent sale of a home in Western Australia.Apart from the two Nigerians,a South African woman Asanda Zimkhitha Cwap ,28 was also arrested on wednesday 3 July following a five month investigation.They were charged with fraud,forgery and uttering.In February,a Mandurah real estate agency that was managing a Green Fields property on behalf of its South African owner received an email from the accused,who allegedly pretended to be the real owner and duped the agency into changing the contact email address it had on file.Two weeks later,a request to sell the property was received and agreements were signed with allegedly forged signatures and exchanged electronically.The property was then put on the market in March,an offer was made on the property and accepted by the pretended owner.On receiving the offer,the agency mailed documents to the real owners,the real owners raised the alarm and informed the authorities.The three suspects are due to appear in Johannesburg court o friday.
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