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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COURT ORDERS FORFEITURE OF YAKUBU'S $9.8M TO FEDERAL GOVERNMENT TODAY.{PHOTOS}.

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No automatic alt text available.                  A Federal High Court sitting in Kano presided over by Justice Zainab B. Abubakar today ordered the forfeiture of the sum of $9,772,00 {Nine Million,Seven Hundred and Seventy Two Thousand United States Dollars} and 74,000 pounds sterling recovered from a former Group Managing Director of the Nigerian National Petroleum Corporation,NNPC,Mr Andrew Yakubu to the Federal Government.The order was sequel to an ex parte application by the EFCC seeking an interim forfeiture of the recovered money to the Federal Government.The ex parte application was moved by Salihu Sani,counsel for the applicant.
In her ruling,Justice Zainab held ''That the sum of $9,772,000 {Nine Million,Seven Hundred and Seventy Two Thousand United States Dollars} and 74,000 Pounds sterling which are now in the custody of the applicant {EFCC} are in the interim forfeited to the Federal Government of Nigeria''.
It would be recalled that,on the 3rd day of February,2017,operatives of the Commission had stormed a building belonging to the former NNPC boss and recovered a staggering sum of $9,772,000 {Nine Million,Seven Hundred and Seventy Two Thousand United States Dollars} and 74,000 Pounds Sterling stashed in a huge fire proof safe.On February 8,2017,Yakubu reported to the Commission's Kano Zonal Office where he admitted being the owner of both the house and the money recovered.Yakubu is still in custody assisting the investigation.More photos below.

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