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 today monday declared the 2016/2017 Legal Year open,urging members of the bar and the bench to come up with innovative reforms so that the Lagos State Judiciary will continue to retain its pride of place in Nigeria.The Governor,who spoke during a church service to commemorate the beginning of the Legal Year,held at the Cthedral Church of Christ,Marina,said the synergy of the Executive and the Judiciary was pivotal to the success of any administration,just as he restated his administration's commitment to enthrone the rule of law and protect the less privileged.He thanked the JUddiciary for the support given to his administration in the last 16 months,urging them to continue to discharge their duties without fear or favour to ensure peace continues to reign in the State.Governor Ambode while acknowledging that the task of delivering justice to the citizenry was tough,however,expressed optimism that the judicial arm of government represented by the Lagos State Judiciary remains the only and the last hope of the citizenry in the State.''We are gathered here again today,just the same way we came last year to seek his protection and guidance I just want to urge all of you in the judicial sector that we should discharge our duties with the fear of God,'' Governor Ambode said.Earlier,Provost of the Cathedral,Revd Akinyemi Johnson,commended Governor Ambode for finding time to attend the event,while also alluding to the strides that the State has recorded since the Governor assumed office.More photos below.
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