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
Lagos State Governor,Mr Akinwunmi Ambode has approved donation of N5million Naira to the family of Late Adamu Slisu Dangwari,a petroleum tanker driver who lost his life in the unfortunate incident involving personnel of Lagos State Traffic Management Authority {LASTMA} while on duty at Rainbow Bus Stop,Mile 2 in Lagos early this year.Special Adviser to the Governor on Transportation,Prince Olanrewaju Elegushi,who made the donation on behalf of the State government to the Ptroleum Drivers Association State Chairman,Mr. Tayo Abejoye,said the amount was to mitigate the effects of the painful loss of Dangwari on the family and assured that the case was still being investigated by the law enforcement agencies.Prince Elegushi commended leadership of the Petroleum Tanker Drivers Association and its parent body,NUPENG for their intervention and maturity during discussions that led to a resolution of issues that arose from Dangwari's death.He urged the union to engage their members on the importance of compliance with traffic laws,rules and regulations to avoid road hazards.Abejoye lauded the State Government's gesture towards the family of the deceased and gave assurance that the union and its members would on their part continue to support the State in achieving its policies and programmes as regards the transportation sector.
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