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
Justice O. Efreti Abang of the Federal High Court sitting in Asaba,Delta State has ordered that Mrs Fidelis Omoile,a serving Independent National Electoral Commission's {INEC} official in Isoko-South Local Government Area of Delta State,be remanded in prison custody following her arraignment on monday,on a two-count amemded charge,bordering on conspiracy and money laundering,by the Economic and Financial Crimes Commission,EFCC.omoile was docked for allegedly collecting the sum of N112,480,000.00 {One Hundred and Twelve Million,Four Hundred and Eighty Thousand Naira},as a bribe during the countdown to the 2015 Presidential election.She was among the over 100 INEC Officials that allegedly collected part of the $115million {N23bn} disbursed by a former Minister of Petroleum Resources,Diezani Alison-Madueke,during the countdown to the 2015 presidential election.Omoile was arrested on 11 April,2016 following an intelligence received by the EFCC on the activities of some INEC Staff,who allegedly connived with some Non Governmental Organisations {NGOs},in defrauding the Federal Governmebt huge sums of money,running into millions of Naira.She allegedly received N112.4million as bribe during the 2015 general election.The defendant pleaded not guilty to the charge when it was read to her.In view of her plea,prosecution counsel,Sadiq Hussani,asked for a trial date and sued that the defendant be remanded in prison custody.However,counsel to the defendant,K.O Obamogie,made an oral application for bail of his client and urged the court to grant his prayers,Hussani opposed his prayers.In his ruling,Justice Abang turned down the defendant's application for bail,directing that the application be filed formally.He also adjourned the matter to 6 June,2017 for hearing and ordered the defendant to be remanded in prison custody pending the determination of her bail.More photos below.
Comments
Post a Comment