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
Today tuesday,a 48 year old teacher Ismaila Mohammad was sentenced to 12 months imprisonment by a Lugbe Grade 1 Area Court,Abuja for allegedly defrauding his neighbour of N224,500.The Senior Judge,Mr Gambo Garba convicted Mohammad after he pleaded guilty to charges of criminal breach of trust and cheating.Garba,however gave him N20,000 option of fine for the two count charge and also ordered him to refund the sum of N224,500 to the complainant.He warned the convict to be of good behaviour and to desist from crimes after serving out his punishment.The convict was docked on a three count charge of joint act,breach of trust and cheating.Earlier,the prosecutor Cpl.Lliya Maji,told the court that one Mohammed Nasir of Iddo Village,Abuja,lodged the complaint at Iddo Police station on July 27.Maji said that the convict collected the sum of N100,000 from the complainant to process immigration recruitment for his son,N90,000 to buy vehicle and N34,500 to buy some chairs for him.He said that the convict converted all the money to his own use,adding that the total money he collected was N224,500.He also prayed the court to try the accused person summarily under Section 157 {1} of the Criminal Procedure Code since he adm,itted committing the crime.Maji said that the offence contravened the provisions of sections 79 {311} and 320 of the Penal code.
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