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

N11BN FRAUD: COURT ADJOURNS EX-GOV. SHEMA'S TRIAL TO APRIL 10,11 AND 12.{PHOTO}.

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       Justice Maikaita Bako of the Kano State High Court today, February 13, 2018 adjourned the corruption trial of former Governor of Katsina State Ibrahim Shehu Shema alongside three others to 10th,11th and 12th of March, 2018.
At the resumed hearing, prosecution counsel, Ologunolisa Sam, SAN informed the court of the victory of the prosecution at the Supreme Court which dismissed the application made by the accused persons through their counsel J.B Daudu. The learned silk further informed the court that the copy of the supreme Court judgment has been forwarded to the trial court for avoidance of doubt.Sam added that the prosecution have a pending motion for the amendment of the charge. “there is a pending application filed on the 24 March 2017 and subject to convenience of the court, we intend to move the application. The motion is seeking leave to amend the charge”.J.B Daudu, SAN on the other hand informed the court that part of the decision of the Supreme Court was that the prosecution availed the accused persons with all the documents in respect of the matter. He informed the court that he had a pending application in that regard.Daudu also raised issue on a motion earlier filed by the prosecution to amend the charge. He told the court that the said motion was signed by one MS Abubakar and the seal affixed to the motion belongs to one Uket. He therefore urged the court to render it void.The prosecution counsel in his reply, argued and cited a decision of the Supreme Court which said that as long as there is a seal in the court it can be fixed.Justice Bako agreed with the prosecution argument and stood down the matter for ten minutes to allow the prosecution to fix the proper seal.When the court resumed, the prosecution counsel informed the court that they have complied with the court directive and MS Abubakar has fixed his seal.The prosecution further told the court that they have a motion seeking the leave of the court relying on all the prayers therein except for prayer three.“The application is supported by 11 paragraph affidavit deposed to MS Abubakar. We rely on all the averments therein”. Justice Bako subsequently granted the prayers of the prosecution and struck out prayer three of the motion as prayed.The case was adjourned to 10,11 and 12 of April for adoption of the motion and hearing.It would be recalled that at the last adjourned date, Shema and his co-accused informed the court that they had filed an appeal to quash the charge against them at the Supreme Court after losing same application at the court of appeal. The matter then suffered long adjournment to today for the report of the Supreme Court decision.Shema is being prosecuted alongside three others, Sani Hamisu Makana, Lawal Ahmad Safana and Ibrahim Lawal Dankaba for allegedly diverting public funds to the tune of over Eleven Billion Naira to their personal use during his tenure as governor of Katsina State.
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