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

EFCC ARRAIGNS INEC COMMISSIONER TODAY OVER N185MILLION SCAM.{PHOTOS}.

Image may contain: one or more people, people standing and hat             A former Rivers State's Resident Electoral Commissioner of the Independent National Electoral Commission,INEC,Gesila Khan Okubama,was today wednesday,June 7,2017 arraigned by the Economic and Financial Crimes Commission,EFCC,at a Federal High Court,sitting in Port Harcourt,Rivers State over N185.8 million sscam.The Commissioner,together with one other official,Peter Popnen,was arraigned before Justice Salihu Saidu on a five-count charge bordering on gratification and money laundering to the tune of N185,842,00k {One Hundred and Eighty Five Million,Eight Hundred and Forty Two Thousand Naira only}.Specifically,the two former INEC Officialss got into trouble,for allegedly collecting the sum of N185,842,00k in the weeks preceding the 2015 Presidential election as a bribe.They are among the over 100 INEC Officials that allegedly collected part of the $115million {N23BN},distributed by a former
minister of Petroleum Resources,Diezani Alison-Madueke,during the countdown to the 2015 presidential election.In view of their pleas,prosecution counsel,O. Oyediran,asked the court for a trial date and pleaded that the defendants be remanded in prison custody.However,counsel to the 1st defendant,S. Larry,SAN,told the court that he had filed a bail application for his client.He said the alleged offences were bailable and that the defendant had earlier been placed on administrative bail by the prosecution and urged the court to grant his prayers.Oyediran,however,opposed his prayers.He said the application was served on him yesterday and he needed time to respond.Counsel to the 2nd defendant,Maol Dumle did same prayers.Oyediran acknowledged his application and told the court that he has also responded to it.In his ruling,Justice Saidu turned down the 1st defendant's application for bail and ordered that she should be remanded in EFCC's custody pending the determination of her bail.He,however,granted the 2nd defendant bail in the sum of N100,000.000,00k {One Hundred Million Naira only} and two sureties in like sum.The sureties must be resident within Port Harcurt,one of the sureties must have a landed property with the jurisdiction of the court,the second surety must be a civil servant on the rank of a Deputy Director and above within the jurisdiction of the court.Also,the two sureties must depose to an affidavit of means with their passport photographs affixed to the affidavit.Additionally,the defendant must deposit his international passport with the court registry and the sureties must be verified by the prosecution and the court registrar.The judge adjourned the matter to 9 June,2017 for argument on bail applications and ordered the 2nd defendant to be remanded in prison custody pending the perfection off his bail.One more photo below.
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