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 Economic and Financial Crimes Commission,EFCC,today tuesday,June 6,2017 arraigned the trio of Onukaogu Onyinyechi Esther,Ebenuwa Chinazo Jennifer and Onukaogu Joshua before Justice A.S. Adepoju of the FCT High court sitting in Wuse,Abuja,on a 13-count sitting in Wuse,Abuja,on a 13-count charge of conspiracy and obtaining by false pretence.Esther allegedly abused her office while being a staff of Soft Alliance,consultants to the office of the Auditor General of the Federation on IPPIS between 2012 and 2013,to input her name and two of her siblings {Jennifer and Joshua} into the IPPIS database as staff of Federal Ministry of Education and Federal Ministry of Works respectively,for the purpose of receiving salaries from the federal government.Esther and her co-defendants were said to have drawn salaries as ghost workers from their respective ministries for three years,to the tune of N9million before the law caught up with them.The offence breaches Section 1 {1} {a} and is punishable under Section 1 {3} of the Advance Fee Fraud and Other Fraud Related Offences Act,No. 14,2006.In view of their pleas,counsel to EFCC,Elizabeth Alabi,urged the court to fix a date for trial and to remand the suspects in prison custody.But,the defence counsel,M.M. Hirse,informed the court that he had pending applications for the bail of the defendants.Responding,Alabi urged the court to refuse the application adding that,''they were once granted bail and they jumped it''.However,Justice Adepoju opined that ''the purpose of bail and they jumped it''.However,Justice Adepoju opined that ''the purpose of bail is to secure the attendance of the defendants in court.It is their constitutional right to be granted bail The judge,therefore,granted each of the defendants bail in the sum of N5million with one surety each in like sum.The sureties must be civil servants not below salary grade level ten.The matter has been adjourned to September 21,2017 for hearing.Meanwhile,the defendants are to be remanded in EFCC custody pending the perfection of their bail conditions.More photos below.
Comments
Post a Comment