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 Rivers State Police Commissioner,Mr Zaki Ahmed has expressed satisfaction and delight in the efforts of the Acting Chairman of the Economic and Financial Crimes Commission,EFCC,Mr Ibrahim Magu,in ridding the nation of corrupt practices.According to him,Magu's efforts have brought pride and honour to the Nigeria Police and Nigerians in general.Ahmed gave this commedation yesterday monday in Port Harcourt,Rivers State,when Magu paid him a courtesy call.''You are doing a good job and we are proud of you.Corruption is a monster.It has tried to destroy the nation but with your efforts and efforts of your men,we will overcome it.Someone doing a good job like you must be faced with so many obstacles but by the grace of God,you will overcome them'',he said.Magu was in the Port Harcourt's Zonal office of the EFCC on a one-day working visit.Aside his courtesy call on the Police Commissioner,he also visited the Chief Judge of Rivers State,Justice Iyayi Laminkara.The visit yielded useful exchange of ideas on how to improve on the prosecution of EFCC'S cases.Justice Laminkara reiterated her disposition and commitments to expeditious trial of corruption cases.''To this effecr,there are judges that we have designated for such cases and we are making progress in this regard'',she said.Magu was accompanied on the visits by the Port Harcourt's Zonal Head,Mr Salihu Ishaq and Head,Public Affairs of the Zone,Mr Dele Oyewale among other officers.More photos below.
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