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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N3.2BN: EX-ABIA GOV,KALU LOSES BID TO STOP TRIAL,AS COURT ORDERS DEFENCE TO OPEN ITS CASE TODAY.

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     Justice Muhammed Idris of the Federal High Court sitting in Ikoyi, Lagos, on Tuesday, July 31, 2018, dismissed a no-case submission filed by a former governor of Abia State, Orji Uzor Kalu, in his bid to stop his trial over an alleged N3.2bn fraud. 
Kalu alongside his former Commissioner for Finance and Account, Jones Udeogu, and a company, Slok Nigeria Limited, are being prosecuted by the Economic and Financial Crimes Commission, EFCC, on an amended 39-count charge bordering on money laundering to the tune of N3.2bn.The EFCC, through its counsel, Rotimi Jacobs, SAN, had, on Friday, May 11, 2018, closed its case against the defendants, after the conclusion of evidence given by a prosecution witness, Chidi Chukwuka , Deputy Director, Nigeria Deposit Insurance Corporation, NDIC.During the May 11, 2018 proceedings, the prosecution counsel had also moved an oral application to amend the charge against the defendants in view of the evidence given so far.However, the defence led by Awa Kalu, SAN, had, on May 28, 2018, filed a no-case submission on behalf of their clients, which they subsequently adopted as their written address. In his short ruling on the no case-submission today, Justice Idris held that the prosecution had established a prima facie case against the defendants based on the evidence against the defendants. The Judge also held that there was a link between Kalu and the two others.“You have explanations to make,” the Judge said. 
Following the ruling, one of the defence counsel, Goddy Uche, SAN, informed the court that the lead counsel to the defendants, Awa Kalu, SAN, had written to notify the court that Kalu has an appointment to undergo a surgery abroad.He, therefore, prayed the court to adjourn the matter to September 10, 2018 to enable the first defendant, Kalu, to open his defence.
In his response, the prosecution counsel, Jacobs urged the court to adjourn further proceedings to the first week of September, saying that “The President of the Court of Appeal has directed that the matter must be concluded before the end of September 2018.”.Consequently, Justice Idris adjourned the case to September 10, 2018 for the defendants to open their defence .
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