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
For the people of Magboro and it's environs,this year Christmas holiday is one not to be forgotten in a hurry.And the reason for this is not far-fetched.On Sunday Christmas day,the community which has not been on the national power grid for many years had power switched on.With this development ,some persons who have lived in Magboro community for close to Ten years without electricity were able to switch on power for the first time.Now,this is another promise kept by Governor Ibikunle Amosun.Although power supply to the Magboro community and indeed the whole of Ogun State falls under the purview of Ibadan Electricity Distribution Company,IBEDC,a private company ,the state government has continued to interface with this company with a view to ensuring that it keeps its promise of switching on electricity in Magboro on Christmas day.This is a further confirmation of the commitment of the Senaator Ibikunle Amosun-led administration's commitment to the welfare of the good people of Ogun State.It is equally an unmistakable statement on the progress of the Amosun-led administration's Mission to Rebuild Ogun State.Beyond electricity,the Ogun State government has also concluded plans to complete the Magboro road construction project in the course of next year.This is already captured in next year budget.
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