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Showing posts from March 12, 2015

INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  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
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SOUTH AFRICAN POWER {ELECTRICITY} CHIEFS,SUSPENDED OVER SERIES OF BLACKOUT.

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          According to Zola Tsotsi,the Chairman of Eskom,the power company that have been struggling to keep stable lights in South Africa  since November.He said ''To ensure that this process is as transparent and unlimited as possible,the boar has also resolved that four of its senior executives should step down {today thursday}for the duration of this enquiry.The Inwuiry which will be carried out by external parties,is to probe delays in the completion of new power stations,poor performance of plants and financial challenges,among other things''.Though according to research,the South African government had been warned as far back as 1998 about a possible system collapse in a policy document presented to parliament.
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8 ARRESTED AFTER CEMETERY WORKERS,CLASHED WITH LADIPO TRADERS IN MUSHIN LAGOS,YESTERDAY.

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                               According to sources,yesterday wednesday,some cemetery attendants printed some receipts and started collecting park and toll fees and allocating spaces on the road side and collecting other tolls accruing to Ladipo Auto Central Executive,LACEC in the market.An attempt by a LACEC task force member identified as Ndubuisi to stop them resulted in a bloody clash after other task force members who saw what happened to Ndubuisi,regrouped and a serious fight brokeout.Atleast eight people were arrested.The major problem started after the market recently conducted an election which produced new executives,led by Comrade Kinsley Ogunor as president.The other group led by Monday Lawrence,who also participated in the election,meaning there are two executives operating in the market and that is causing the clash.Most of the shops were locked up for fear of destruction because during the clash,guns,machetes and axes were freely used.
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