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,the Lagos State House of Assembly confirmed Ambode's nominee for the position of the Chairman of Board of Lagos State Security Trust Fund {LSSTF},Mr Oye Hassan Odukale.Mr Odukale said that he was surprised that he was nominated for the position by the Governor.Mr Odukale who is currently the Managing Director of Leadway Assurance Plc said that his motive is to raise money for the fund through the private sector and that his company has contributed immensely to the fund in the past.According to him,the board of LSSTF has eight members and the fund is ment to equip all security agencies such as the police,army and the Department of the State Security Service {DSS}.He further said that ''It is a volunteer work for me to raise money for the state through my network and those of others on the board.We need to win the trust of the people that are contributing to the fund and widen the net of the contribution''.
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