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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EFCC ARRAIGNS SUSPECTED FRAUDSTER TODAY FOR N6.9M.{PHOTO}.

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                 The Economic and Financial Crimes Commission today tuesday October 25,2016,arraigned one Olurotimi David and his company Davchel Nigeria Limited before Hon. Justice E. Esan of the Oyo State High Court sitting in Ibadan,on a 2-count charge bordering on obtaining money by false pretence and issuance of dishonoured cheque.David pleaded not guilty to the charges preferred against him.David allegedly obtained the sum of 6,971,020.00 {Six Million,Nine Hundred and Seventy One Thousand Naira} from one Ishola Gbenga,Generl Manager of Ennydaras Company Limited through a phony contract to supply 155 metric tonnes of soya bean to his warehouse at Ota,Idi-Iroko Road Ota,Ogun State.He thereafter signed a memorandum of understanding to pay the said sum with a cheque which he issued but was returned unpaid upon presentation for payment in the bank.

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