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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NO IMMEDIATE PLAN TO BRING BACK ALLISON MADUEKE-AG FEDERATION.

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      The Minister of Justice and Attorney General of the Federation, Abubakar Malami, says Nigeria has no immediate plan to bring back home former Petroleum Minister, Mrs Deziani Allison-Madueke, to face trial.
Allison-Madueke, who is being investigated in the UK, had earlier urged the Federal Government to bring her back to the country to face corruption charges against her.Malami, however, told State House correspondents in Abuja on Wednesday that bringing her back to the country would jeopardize the investigation being carried on her in the UK.“Steps have been taken by the United Kingdom authorities on issues bothering on corrupt practices involving Nigerians.“If Nigeria feels strongly that there is need to bring Mrs Diezani Allison-Madueke here to face charges of corruption, government will not hesitate to do that.“As things stand now, there is no need for that since the UK Government is already investigating her.“Government will not take any decision that will jeopardize what the UK government is doing,’’ he said.He said Madueke could request to be brought home for trial but that she should face her trial in the UK because the gravity of the offence she committed abroad was higher.He said: “Mrs Deziani Allison-Madueke is facing charges of money laundering and acquisition of properties in the United Kingdom.
“So it is more important to face the charges there than for her to come as a mere witness in a case in Nigeria.’’The minister further stated that the country was doing a lot in litigation and fight against corruption within and outside the country.“The truth of the matter is that government is doing something, especially on issues of corruption and litigation in Nigeria and outside the country,” he added.He said that there had been some understanding between Nigeria and other countries, especially the United Kingdom on recovery of stolen funds.
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