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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A SUSPECT UNDER INVESTIGATION BY THE EFCC,PASSED AWAY TODAY FEW HOURS AFTER HE WAS TAKEN INTO CUSTODY.

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                   Desmond Nunugwo,aa suspect under investigation by the EFCC,passed away today June 10,2016 few hours after he was taken into custody.His demise was confirmed at the hospital where he was rushed after he suddenly took ill.Late Nunugwu allegedly fraudulently obtained N91 million from an acquaintance after he tricked her into believing that he had high net worth business associates in Dubai,United Arab Emirates who were at the verge of buying Nicon insurance and convinced her of their disposition to help her stock fish business.Consequently,she wired N91 million into Nunugwo's nominated account {Mainagge General Merchants} in Diamond Bank.After the transfer of the funds,Nunugwo became evasive forcing the complainant to report the transaction to the EFCC.Consequently,Nunugwo was arrested in Utako,Abuja at about 5.33pm on Thursday,June 9,2016.His statement was taken,where he admitted receiving the money from the complainant,with the additional information that he transferred N30 million of the said money to Norway.But he could not explain the whereabouts of the balance of N61 milion.The suspect was detained at about 7:30pm,in the absence of anybody to take him on bail.Six hours later,he suddenly complained of discomfort and was rushed to the hospital where he was pronounced dead.The incident has already been reported at the Wuse Police Station,where investigation into the cause of the sudden death has commenced.

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