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 OGUNLEWE,FUNAB VC AND BURSAR TODAY.{PHOTOS}.

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                The Economic and Financial Crimes Commission today friday,November 25,2016 arraigned the trio of Senator Adesewe Ogunlewe,former Works and Housing Minister and Pro Chancellor,Federal University of Agriculture,Abeokuta,FUNAB Prof. Olusola Oyewole,the Vice Chancellor and Mr Moses Olusola Oyewole,the Vice Chancellor and Mr Moses Olusola Ilesanmi,Bursar before Justice O.O Majekodunmi of the State High Court sitting at Abeokuta,Ogun State on an 18-count charge bordering on conspiracy,stealing,obtaining money by false pretence and abuse of office.They however pleaded not guilty to all the charges.In view of their plea,the prosecution counsel Bennedict Ubi and Festus Ojo asked the court to remand them in prison custody pending the commencement of trial.The defence counsel to the first,second and third defendants Wale Adesokan {SAN},Benjamin Ogunmodede and Lapite Ademola urge the court to admit them to bail having filed the various applications before the court.Having listened to the submissions of both counsel on the bail applications,Justice Majekodunmi granted the first and second defendants {Ogunlewe and Oyewole} bail in the sum of fifty million naira {N50m} with two sureties in like sum.Sureties must be house owners within the jurisdiction and one of them must be a civil servant on grade level 15.The defendants must submit their International Passports to the court Registrar.The court ordered that the defendants be remanded in prison custody pending the perfection of their bail conditions.Justice Majekodunmi adjourned ruling on the bail application of the third defendant till Monday 28th November and 16th,19th and 20th of December for the commencement of trial.More photos below.

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