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
Operatives of the Economic and Financial Crimes Commission,EFCC,have arrested an oil vessel off-loading products suspected to be Automated Gas Oil,AGO,along Eagle Island in Port Harcourt,Rivers State.The arrest,made yesterday thursday December 1,was made possible by high-level intelligence and surveillance by the EFCC.Men and officers of the NNS Pathfinder,Naval Base,Port Harcourt also offered professional support and facilitation of the operation.The vessel: H.W. BECHMAN,an oil tanker,with Registration Number:4014030,was caught off-loading products into a Tank Farm housed in the premises of NEPAS Limited in the Iwofe area of Port Harcourt.It was the first-ever oil vessel interception made by the EFCC since its reception.Preliminary investigations by the EFCC showed that the oil vessel carried products loaded in twelve {12} compartments.Seven of the compartments had already been offloaded into the Tank Farm at the point of arrest.Products were still found in five other compartments.The products were suspected to have been sourced from the proceeds of pipeline vandalisation in the creeks of the Niger Delta.Operators off the vessel escaped on sighting the EFCC operatives,escaped in a speed boat but a quick response and support by men of the NNS Pathfinder ensured that the oil vessel was not moved.Several documents were recovered from the vessel and further investigations in the case,are on-going.One more photo below.
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