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

LAGOS STATE,SETS UP A REVENUE COURT TO TACKLE TAX EVADERS/DEFAULTERS.

                       Today tuesday,the Lagos State Government said it would apply the relevant laws to ensure that more Lagosians voluntarily pay their taxes,just as ir warned that tax evaders and defaulters would be prosecuted.State Attorney General and Commissioner for Justice,Mr Adeniji kazeem,who sated this during a press conference held at the Bagauda Kaltho Press Centre in Alaausa Secretariat,said in view of the extreme financial downturn,there was the strong need for government to ramp up its Internally Generated Revenue {IGR},stressing that the state would spaare nothing in enforcing the laws regulating tax payment.He said the administration of Governor Ambode had put in place necessary measures to end the era of tax evasion and indeed avoidance in the state,adding that tax avoiders and evaders would be aggressively pursued in line with the provisions of the law.The Commissioner,who disclosed that the Ministry of Justice had established a Rapid Tax Prosecution Unit to aid the Lagos Internal Revenue Service {LIRS} in its drive to collect taxes,added that the unit would work closely with the Revenue Court which the Chief Judge of Lagos State recently agreed to set up.He said ''Prosecution and jail term for defaulting tax payers will be a tool that we will be actively using to ensure full compliance.Tax officers,i understand,will be very aggressive in their collection of taxes and the public is hereby advised to cooperate with them because obstruction of these tax officers in their lawful duty can and will lead to prosecution.Tax dodhers watch out because the long arm of the law will eventually reach you.All tax payers are also reminded that gining false information is also an offence and can be used in the proscution of your tax default.If you pay your taxes regularly,you will have no problem''.Said Kazeem.More photos below.                                                  

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