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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N359M FRAUD: COURT ORDERS INTERIM FORFEITURE OF JOS PROVOST,ETUKUDO'S PROPERTIES.{PHOTO}.

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    Justice D. D. Longi of the Plateau State High Court, Jos, has ordered the interim forfeiture to the Federal Government of a duplex, two parcels of land and four flats allegedly acquired by the Provost of Federal School of Medical Laboratory Technology, FSMLT, Jos, Plateau State, Dr Nkereuwem Sunday Etukudoh.
The judge gave the order following a motion ex-parte by the Economic and Financial Crimes Commission, EFCC seeking interim forfeiture of the said properties, same having being acquired with proceeds of illegal activities.Etukudo is standing trial alongside Yusuf Samuel, Accountant, FSMLT; Ernest Demtoe, Secretary of Tenders Board, FSMLT; Goodluck Echewa, and Esio Udoh, both contractors of FSMLT, on a 15-count charge of conspiracy, official corruption and diversion of FSMLT funds to the tune of N359million.Details of the properties to be forfeited are: A duplex situated at No. 1 Senator John Mbatu Crescent (Plot 240) Andi Kan Beulah Estate, Phase 2, Kafe, Abuja; Four flats situated at No. 2 Edem Urua Road, Off Nudo Udoma Avenue, Itam Ikot Ebia Uyo, Akwa Ibom State; a parcel of land measuring 4,183.560 square meters situated at Ediene Ikot Obio Imo, Abak Road, Uyo and another parcel of land measuring 2,657.686 square meters at Defarmco Street, Eniong Offot, Uyo Akwa Ibom State.The prosecution had on Thursday February 22, 2018 presented its first witness, Ethel Ekam, a former staff of the FSMLT, who narrated how Etukudo and his accomplices mismanaged N359million FSMLT funds and tendered relevant documents to back up the claim.However, attempts by the defence counsel to pose questions to the witness relating to a document was objected to by the prosecution as the document referred to was not in an admissible form. In the meantime, the matter has been adjourned to May 31 and June 1, 2018 from the earlier adjourned date of April 19 – 20, 2018 for cross-examination of the PW1 and continuation of trial.
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