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
The Economic and Financial Crimes Commission yesterday arraigned one Jamilu Yunusa before Justice Yahaya Galadanci of the Kano State High Court on a seven count charge of Conspiracy and Obtaining by False Pretense.The accused person alongside two others,Inuwa Abdu and Habibu Inuwa who are still at large allegedly connived and defrauded the complainants to the tune of One Million,five hundred and twenty thousand Naira by claiming that he had a contract with Dantata and Sawoe for the supply of pipes to the company.He convinced his victims by promising to share the contract profit with them.However,investigation by the EFCC revealed that the accused person never had a contract with Dantata and Sawoe.One of the charge read ''that Jamilu Yunusa,Inuwa Abdu {at large} and Habibu Inuwa {at large} sometime last year in Kano within the jurisdiction of this Honourable Court conspired among yourselves to do an illegal act to wit: obtaining by false pretense the sum of Two Hundred Thousand Naira only,from Nuhu Abubakar through Skye Bank account belonging to Inuwa Abdu,which was done pursuance to the said agreement and thereby committed an offence contrary to section {8} of the Advance Fee Fraud and Other Fraud Related Offences Act,006 and punishable under Section 1{3} of the same Act''.After listening to the charge,the accused person pleaded not guilty.Prosecution counsel Douglas Ijah Gift asked the court for a trial date in view of the plea of the accused person.Counsel for the defendant Amina Umar Garba applied orally that the accused person be admitted to bail.The matter has been adjourned till January 5,next year for hearing of bail application.The accused person was remanded in prison custody.One more photo below.
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