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

PIRATES UNDER EFCC'S RADAR.{PHOTO}

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     The Economic and Financial Crimes Commission, EFCC on Tuesday, 24th July, 2018 at the EFCC Academy, Karu, Abuja said the theft of intellectual property is a crime under the EFCC Establishment Act, 2004.
Head, Research Unit, EFCC Academy, Abiodun Adebanjo, representing the Commandant, Dr David Tukura revealed this to students of Ado Bayero University, Kano State on excursion to the Commission.“I urge you to desist from copying and claiming ownership of other people’s intellectual properties as it is common with even some scholars in their thesis for the award of doctorate degree,” Adebanjo charged the students.
Section 46, Paragraph 4 of the EFCC Act, 2004 under interpretation states “economic and financial crimes” means the non-violent criminal and illicit activity committed with the objectives of earning wealth illegally either individually or in a group or organized manner thereby violating existing legislation governing the economic activities of government and its administration and includes any form of fraud, narcotic drug trafficking, money laundering, embezzlement, bribery, looting and any form of corrupt malpractices, illegal arms deal, smuggling, human trafficking and child labour, illegal oil bunkering and illegal mining, tax evasion, foreign exchange malpractices including counterfeiting of currency, theft of intellectual property and piracy, open market abuse, dumping of toxic wastes and prohibited goods, etc”.Adebanjo said the mandate of the Commission which is summarised into three sub-heading; to prevent, investigate and prosecute offenders of all forms of Economic and Financial Crimes in Nigeria also includes the powers to enforce every other Laws that empowers the ICPC, the Nigeria Police Force and some other Law Enforcement Agencies.
While fielding questions from the students on the recruitment process of the EFCC, they were made to understand that the recruitment process into the EFCC is transparent and follows due process set by all extant civil service rules which also emphasize the reflection of federal character in the public service.The head of the delegation, Abubakar Salihu of the Department of Public Administration, Ado Bayero University, Kano expressed compliments to the EFCC for the courtesy and reception they received.
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