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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EFCC DOCKS LAWYER FOR N20.4M FRAUD.{PHOTO}.#PRESS RELEASE.

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      The Economic and Financial Crimes Commission, #EFCC, Lagos Zonal office, on Thursday, August 22, 2019, arraigned one Taofik Oladipo Elias, a lawyer, before Justice Hakeem Oshodi of the State High Court sitting in Lagos on a two-count charge bordering on stealing to the tune of N20.4million.
The complainant, Gunther Uche Maduike, allegedly approached the defendant to sell a property in the Obalende area of Lagos for him.
The defendant, however, allegedly failed to remit the proceeds from the sale of the property to the family of the complainant.
One of the counts reads: "That you, Taofik Oladipo Elias, on or about 13th February, 2015 in Lagos, within the jurisdiction of this Honourable Court, with a dishonest intent, converted to your own use the sum of N10,000,000.00k (Ten Million Naira) property of Gunther Uche Maduike."
The defendant, however, pleaded not guilty to the charge when it was read to him.
In view of his plea, the prosecution counsel, Ismaili Suleiman, asked for a trial date and also prayed the court to remand the defendant in prison custody pending the determination of the case.
Counsel to the defendant, Omolola Satar, informed the court that he had filed a motion for bail since July 22, 2019 and had served same on the prosecution.
Satar, therefore, urged the court to admit his client to bail.
In his response, the prosecution counsel, Suleiman, told the court that “the issue of bail is solely at the discretion of the court.”
He, however, urged the court to impose stringent conditions that would ensure the attendance of the defendant in court for trial.
Justice Oshodi, after listening to both parties, granted the defendant bail on self-recognition.
The Judge ordered the defendant to deposit his international passport and Call-to-Bar certificate with the court’s Registrar.
The defendant was also ordered to enter into a N5 million bond with the court’s Registrar and perfect the bail conditions within 14 days, so it would not be revoked.
Justice Oshodi adjourned the case to October 17, 2019 for commencement of trial.
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