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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BUSINESSMAN BAGS 10 YEARS FOR N1.1M FRAUD.{PHOTO}.#PRESS RELEASE.

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     The Maiduguri Zonal Office of the Economic and Financial Crimes Commission, EFCC on Thursday, May 9, 2019 secured the conviction of one Suberu Ishaq Okatai.
Okatai was convicted by Justice Umaru Fadawu of the Borno State High Court, sitting in Maiduguri for the offences of conspiracy and obtaining money by false pretense.
His journey to jail started when the Commission received a petition against him on May 14, 2018, alleging that he collected the sum of N1,190,000.00 (One Million One Hundred and Ninety Thousand Naira).
The said sum was received under the pretence that, it was to be used for the supply of power indicator, which the accused and others now at large knew that the said business never existed.
He pleaded “not guilty” to the two-count charge when he was arraigned on March 18, 2019.
Counsel for the prosecution, Khalid Sanusi, presented three witnesses and tendered three exhibits during the trial.
In the allocutus, the convict pleaded for leniency and prayed the court to temper justice with mercy.
Justice Fadawu in his judgment ruled that: “I hereby sentence you to 10 years in prison for the offence of conspiracy contrary to and punishable under sections 8(a) & 1(3) of the Advance Fee Fraud and other Fraud related offences Act 2006.
“I hereby sentence you to 10 years in prison for the offence of obtaining by false pretence contrary to and punishable under sections 1(1) (b) & 1(3) of the Advance Fee Fraud and other Fraud related offences Act 2006.”
The Judge further directed the convict to compensate the nominal complainant the sum of (N1.1 Million) One Million One Hundred and Ninety Thousand Naira, in default of which, the convict should spend three years in prison.
Justice Fadawu, further held that: “The outstanding balance in the account of the convict in the sum of N39,480.44 be forfeited to the Federal Government of Nigeria and the account be closed.”
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