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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BUSINESS-MAN BAGS 7 YEARS TODAY FOR N4.4M FRAUD.{PHOTO}.

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      The Economic and Financial Crimes Commission, EFCC, Enugu Zonal Office has secured the conviction of a businessman, Nicholas Emenike for advance fee fraud.
Emenike was on March 27, 2017 arraigned along with his company, Raso Construction Company Limited, at an Enugu State High Court, on a two-count charge of obtaining money by false pretence to the tune of N4,467,500.
His ordeal began in 2015 when he was reported to the EFCC by a complainant who alleged that Emenike deceived him into supply rods for the execution of a multi-million naira building contract he claimed to have won.
After supplying the rods, Emenike issued a post-dated cheque, which was returned unpaid.
Investigation by the EFCC, however, revealed that Emenike was never awarded any contract, as there was no document to support his claim. It was further established that he sold the rods and diverted the proceeds to his personal use.
He had pleaded “not guilty” to the charges.
The prosecution team led by Ani Ikechukwu Michael opened its case by calling two witnesses and tendering nine exhibits.Delivering judgement on January 4, 2019, Justice C.C. Ani found him guilty on count one bordering on obtaining by false pretence, and discharged him on count two, bordering on issuance of dud cheque, and sentenced him to seven years in prison.
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