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
At the resumed trial of a former Chief of Defence Staff,CDS,Air Chief Marshal Alex S. Badeh,today tuesday,May 24,2016 the fourth prosecution witness,PW4,Mustapha Yerima gave Justice Okon E, Abang of the Federal High Court Abuja a blow-by-blow account of how he was paid the sum of N108million through Badeh's company,Vetivo Nigeria Limited.Yerima whose testimony started yesterday stated that,the process of the payment came through a third party.According to Yerima ''The payment that came through a third party is as a result of the meeting between myself,Air Comodore Yushau {a retired Air Commodore and former director of finance and account} and Badeh.This was prior to my meeting with Air Commodore Yushau and Barrister Timothy Muje.At the meeting,Yushau introduced Timmothy to me as the lawyer to Air Chief Marshall Badeh since he {uushau} was retiring.He said i should transfer all the necessary documents to the Lawyer { Timothy}''.He stated that ''Yushau came to the said meeting with prepared Deed of Assignment and Power of Attorney with his company's name and another document transfering the title from Ryte Builders to Edile Construction Company.He was given a copy to sign and he did.He was given a copy to sign and he did.He said he handed over to Timothy,the original Certificate of Occupancy,C of O, and the Deed of Assignment''.After the transfer of the documents,Yerima claimed that he received the sum of N108 million.''I received an alert from one Vetivo Nigerian Limited.I called Badeh and he confirmed that Vetivo Nigeria Limited was his and he instructed that the money be paid into my company's account'',Yerima revealed.One more photo below. 
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