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 sources,Justice Olabisi Ogungbesan of the Lagos State High Court in Ikeja on friday halted the ongoing coronation ceremony to fill the vacant stool of Ayangburen,the traditional ruler of Ikorodu Kingdom,in Lagos state Nigeria.The Ayangburen stool became vacant on August 1,2014 after the passage of Oba S.A.A Oyefusi.The ceremony to crown the new Ayangburen,which had been scheduled for saturday,August 15,2015 was halted by Justice Ogungbesan in the interest of Justice.Ogungbesan said she was satisfied from the evidence placed before the court that unquantifiable damage would be done if the coronation ceremony was allowed to go on as scheduled.She therefore restrained the Lagos state Governor,Mr Akinwunmi Ambode,or anyone acting under his authority,from going ahead on Saturday to crown the current Odofin of Ikorodu,Chief Kabiru shotebi,as the new Ayangburen of Ikorodu Kingdom.The judge also stopped Shotebi from either presenting himself for coronation or parading himself as the Ayangburen of Ikorodu,or actualising any recognition thereon as such,or exercising any of the Ayangburen royal function,pending the determination of a suit filed by Odupitan Eniola,from the Lambo branch of the Lasunwon chieftaincy family of Ikorodu Kingdom.The applicant claimed that it was the turn of the Lambo branch of the Lasunwon chieftaining family,from which he came,to present the next Ayangburen,adding that he had been nominated by the family to be crowned as the new Ayangburen at meetings held on September 7 and 21,2014.Eniola claimed that the Adegorushe family had already benefited after Shotebi became the Odofin of Ikorodu Kindom,following a court judgment on April 1,2009 in a suit marked IKD/57/2007.
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