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,it was reported that Belgium will stop its aid programmes in Burundi in protest of President Pierra Nkurunziza's contestable election for a third term.The European country,from which Burundi gained independence from in 1962,said it was immediately halting aid programmes benefitting the government,including its support for justice system.It said it would redirect these funds to other programmes to help the Burundi citizens via aid groups.Belgium will however continue financing the health care initiatives.The Belgium aid to Burundi was about $55.8 million in 2013,most of it going directly to the state.Separately,the European Union imposed travel bans and asset freezes agreed earlier this week on four officials close to President Nkurunziza,who are accused of using excessive force during the clashes that rocked the country in the run up to his re-election in July 2015.
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