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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COURT JAILS FRAUDSTER 3 YEARS,OVER $45,000 FOREX SCAM.{PHOTO}.

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                             Justice Kudirat Jose of the Lagos State High Court,sitting in Ikeja has convicted and sentenced one Chief Ike Chukwu Meregini to three years imprisonment.The convict was arraigned on 12 May,205 on two-count charge bordering on obtaining money under false pretence brought against him by the EFCC.Meregini ran into trouble when a petitioner,M.S Securities Bureau De Change Limited,allegedly entered into a foreign exchange transaction with him,involving the sum of $45,000 {Forty-Five Thousand United States Dollars}.The money was paid into his domiciliary account,with an understanding that Meregini would pay the Naira equivalent to the petitioner within five {5} days of the transaction,Meregini allegedly issued a post-dated cheque to the petitioner and when it was presented,it was returned unpaid.The petitioner said that all efforts to make Meregini refund the money yielded no result.He pleaded not guilty to the two-count charge and the matter went into full trial.Justice Jose found him guilty and consequently convicted and sentenced him to three years imprisonment without an option of fine starting from the date of judgement.The Judge als ordered the EFCC to trace his assets and pay the complainant.

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