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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EFCC ARRAIGNS FOUR FOR $10,000 OIL SCAM.{PHOTO}.

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Image may contain: 5 people, people standing and outdoor                       The Economic and Financial Crimes Commission,EFCC,on Monday,March 13,2017 arraigned the trio of Emmanuel Onubogu,Onyeka Godday and Mamudu Musa alonside their company,Zirconafrik Limited,before Justice O.A Taiwo of the Lagos State High Court sitting in Igbosere =,Lagos on a two-count charge bordering on conspiracy and obtaining money under false pretence to the tune of USD10,000.00 {Ten Thousand United States Dollars}.The defendants allegedly approached the complainant,Adewale Olaiya,requesting the sum of $10,000,which they said they needed as ''authentication fee'' for one million barrels of crude oil allocated to them by the Nigerian National Petroleum Corporation,NNPC,for sale.However,the defendants allegedly became elusive after receiving the money from the complainant.The defendants,however,pleaded not guilty to all the charges when they were rad to them.In view of their plea,prosecution counsel,M.S. Usman,asked the court for a trial date and prayed that the defendants be remanded in prison custody.However,counsels to the defendants,pleaded with the court to grant their clients bail.The prosecution counsel did not oppose the prayers of the defence counsels,Consequently,Justice Taiwo adjourned the matter to March 22,2017 for hearing of bail applications and ordered the defendants to be remanded in the EFCC's custody.
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