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 thursday assured residents that the ongoing Lagos-Badagry Expressway Expansion project would be completed before the end of 2019.The Governor,who spoke shortly after embarking on extensive inspection of ongoing projects across the State,said the project was a major economic catalyst for Lagos and therefore his administration was totally committed to seeing it through.Recalling that his recent visit to Demark was to finalise plans with APM Terminals to fast-track the commencement of work on the $2.6billion Badagry Deep Sea Port,Governor Ambode said it was important for the road network to be completed within schedule to accommodate the anticipated increase in economic activities within the axis.''On the part of government,it is imperative that the project is accelerated and completed on schedule.IIt isa 10-lane expansion project with a provision for rail.By doing this project,we would also expand the real estate value of this axis and the tourism potentials of the Badagry axis.I am confident that in no time,we should have a complete project before the end of 2019.Just about five months ago,we were here to see the progress of this project.This road is designed to connect all the people living in the Aboru area to Iyana-Ipaja and also to the LASU-Iba road and all the people living within the Ajasa Community.You will recall also that just about three months ago,we were here to open up the Ajasa Command road and this is another project to complement the opening uo of the Alimosho community.Like the contractor has promised,we hope to finish this project by the end of January next year.We have also found out that we need to extend this bridge by an additional 120 meters because of the nature of the soil in this area.I had earlier promised that this project would be delivered by the end of this year but I'm pleased with the progress being made on this project.I want to urge the contractors and the supervisors to ensure that we meet the completion date and that within the first quarter of next year,all the people in Alimosho will enjoy this facility,'' he said.
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