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
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N81M FRAUD: COURT DISMISSES JUSTICE NGANJIWA'S APPLICATION FOR STAY OF PROCEEDINGS TODAY.{PHOTO}.

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      Justice Adedayo Akintoye of the Lagos State High Court sitting in Igbosere, on Friday, October 6, 2017 dismissed an application filed by Justice Hyeladzira Ajiya Nganjiwa of the Federal High Court, Bayelsa Division, seeking a stay of proceedings in a case of unlawful enrichment to the tune of $ 260,000 and N8.65million (about N81, 705,000) preferred against him by the EFCC. At the last adjourned sitting, Nganjiwa was granted bail on self-recognition after he pleaded not guilty to the 14-count charge. The case is adjourned to November 13, 15 and 22, 2017 for continuation of trial.
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