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 South-South Zonal Head of Operations of the Economic and Financial Crimes Commission,EFCC,Mr. Ishaq Salihu,on friday,June 2,2017 told a Rivers State High Court,sitting in Port Harcourt,that a former Director of the Niger Delta Development Commission,NDDC,Mr Robert Akunne Obuoha,offered him a bribe of N150,000.00k {One Hundred and Fifty Thousand Naira only},in order to compromise an ongoing investigation by the EFCC.He stated this before Justice S.C. Amadi,while being led in evidence by the EFCC's counsel,O.B. Akinsola {Mrs}. Obuohs,a former director in the Project Management of the NDDC,is being investigated in a case of contract splitting and over-inflation of contract.At the resumed hearing of the matter on thursday,the EFCC presented its last prosecution witness,Mr Ishaq Salihu,who told the court that,''on February 12,2016,the defendant came to my office where he asked me that he wanted to see me in private and all alone,and I asked him,why? I categorically told him that it was not possible and that,whatever he wished to see me abut,should be discussed in the presence of the investigators.There upon,he dipped his hand into his pocket and brought out a sum of N150,000.00,made up of three bundles of N50,000.00 of N500 denomination each and offered them to me.I asked him what the money was meant for,the defendant said I should use it to buy recharge cardss and also to establish a relationship with me.This prompted the Commission to investigate the matter and file a charge against the defendant''.Defence counsel,Chief Sam Nwadigha asked Salihu whether he had any personal dealings with the defendant ''before February 12,2016?' and he responded ''Yes and No''.''Yes because he came to the EFCC to write a statement over an ongoing investigation in which his name featured,and he was allowed to go and bring in a surety because of the volume of money involved.''As a staff of NDDC,he was asked to go and bring a reliable surety''.Obuoha,had in his confessional statement,admitted that he offered Salihu the said money ''for him to buy recharge cards in order to build a good relationship with him''.Justice Amadi adjourned the case to 13 July,2017 for the defence counsel to open its case.One more photo below.
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