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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MAGU WARNS BANKERS AGAINST COMPLICITY WITH LOOTERS.{PHOTOS}.#PRESS RELEASE.

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     The Acting Chairman, Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has warned employees of financial institutions in the country to guide against any act of complicity with looters of our commonwealth saying, “negligence is not an excuse”.
Magu gave the charge on Wednesday, August 21, 2019 while playing host to a group of trainees from Ecobank Nigeria Plc on a visit to the Lagos office of the Commission.
The anti-graft czar who spoke through the Head of Cybercrimes, EFCC, Lagos office, Dein Whyte, further emphasized the need for financial institutions to know their customers very well, adding that “the identities and addresses of your customers must always be updated, so as not to be blind-folded, especially in situations that result in criminal matters”.
He added that: “It is also important to know the Money Laundering Act and the laws governing all financial institutions.
“Money laundering is making dirty money look clean and it can be done through different ways, but mostly through banks.”
The EFCC boss urged the trainees to always watch out for red flags and report all suspicious transactions.
“Don’t allow pressure of work to prevent you from carrying out due diligence in your assigned tasks; stick to the rules, be professional; let the laws and rules guide you; try not to be an accessory to crime by not doing the needful and have an eye for details”, he said.
The group was received by the Lagos Zonal Head, Muhammad Issa Rabo.
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