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
Smuggling,as we all know is a global phenomenon that cannot be eradicated entirely but can be brougt to its barest minimum.As a testament to fact,the Crack Team of the Nigeria Customs Service,Federal Operations Unit,Zone 'A' led by AC Adahunse R.A,over the weekend intercepted a DAF Truck with Reg.Num: XT 223 EKY along Lagos Ibadan Expressway based on information of un-customs goods.Physical examination revealed 220 bags of smuggled foreign parboiled rice neatly concealed with cartons of Kerosene stoves,bales of bed sheets and other household items with the intention of evading customs law.The seized items has a duty paid value of Two Million,Seven Hundred and Thirteen Thousand,Four Hundred and Ninety One Naira {N2,713,491.00} only.
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