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

WE WILL NOT BE DISTRACTED BY FRIVOLOUS ALLEGATIONS-FG.{PHOTO}.#PRESS RELEASE TODAY.


     The Minister of Information and Culture, Alhaji Lai Mohammed, has said the Buhari Administration will not be distracted by frivolous allegations from any quarter, especially those cleverly choreographed to divert attention from a widely-acclaimed presidential proclamation and to shore up support for a waning and egotistical cause.
In a statement issued in Lagos on Friday, the Minister said the administration is too busy trying to clear the mess of 16 years and build on its unprecedented achievements over the past three years to waste its energy and time on framing up anyone or dwelling on issues that are not grounded in fact.
He said while those who have skeletons in their wardrobes should be afraid, even of their own shadows, innocent persons need not worry about any investigation, whether real or imagined.
”This administration will never engage in a frame-up of innocent citizens. That is neither in the character of President Muhammadu Buhari nor in that of his administration. Only the guilty should be worried. To paraphrase an African proverb, a man who has no wife cannot lose an inlaw to the cold hands of death.
”The administration is also strongly committed to the tenets of democracy, including freedom of speech and the right to dissent. But we understand that those who, in their time, were untethered to those principles would find it hard to believe,” Alhaji Mohammed said.
The Minister said it was curious that the frame-up and witch-hunt allegations came a day after a major presidential proclamation reversing some past acts of injustice was made, to the relief and acclamation of a long-expectant nation.
”Apparently, the impact of this proclamation was too much to bear by those who, through acts of omission or commission, helped to deepen the wounds inflicted by the blow of injustice that followed an election that was widely acclaimed to be free, fair and credible, hence they felt the need for a red herring that will distract the nation.
”Added to that is the frustration brought about by the fact that the contraption they have so much hyped as a freeway to power has failed to gain traction. Faced with this double tragedy, even the strongest of men may begin to succumb to a figment of their imagination. They may start crying wolf where there is none,” he said.
Alhaji Mohammed said the unprecedented achievements of the Buhari Administration are also enough to cause sleepless nights, with the attendant symptoms that include phantasm, for those who had better opportunities to make the country great but floundered on the altar of narcissism.
Segun Adeyemi
SA To Hon Minister of Information and Culture
Lagos  
8 June 2018

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