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

MAGU DECRIES UK'S REFUSAL TO EXTRADITE ALLISON-MADUEKE AS EFCC WINS 'INSTITUTION OF THE DECADE' AWARD.{PHOTO}.#PRESS RELEASE.

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      The Acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, has decried the refusal of the United Kingdom (UK), to extradite former Minister of Petroleum Resources, Diezani Allison-Madueke, to face trial for alleged money laundering in Nigeria.
Magu stated this on Monday, January 20, 2020, while receiving the “Institution of the Decade” award on behalf of the EFCC at the awards ceremony organised by Thisday Newspaper to mark its 25th anniversary at the Eko Hotels and Suits , Victoria Island, Lagos.
The EFCC boss disclosed that the Commission had sufficient evidence to prosecute Allison-Madueke for the alleged financial malfeasance she committed while in office. The looted funds, traced to Allison-Madueke and others, he noted, could be used to keep the wheel of the nation’s economy rolling if recovered.
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