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,EFCC,has recovered seventeen exotic vehicles in a warehouse of the former Comptroller General of Custom,Abdullahi Dikko Inde located at Nnamdi Azikwe Street,Kaduna.Thee recovery was sequel to an intelligence the commission received that stolen money and properties suspected to proceeds of crime were being stored in the warehouse.Upon receipt of intelligence,a team of operatives from the Kano Zonal Office were deployed to carry out the investigation.On arrival at the location,two individuals who were discovered to be the custodians of the property,Dantala Mohammed and Ahmed Balarabe were presented with a search warrant.Upon executing the search warrant,a total of seventeen amongst them brand new cars,shuttle busses and SUVs were discovered.Consequently,the vehicles and the two individuals who are now also suspects in the investigation were conveyed to the Commission's zonal offices in Kaduna and Kano respectively for further investigation which revealed that the warehouse in question actually belongs to the former customs boss.Investigation is still ongoing and the two suspects arrested are in custody.More photos below.
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