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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TWO BAG ONE YEAR JAIL TERM EACH,FORFEIT PROPERTIES OVER $997,400 FRAUD.{PHOTO}.

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      Justice Oluwatoyin Taiwo of the Special Offences Court sitting in Ikeja, Lagos has convicted and sentenced the duo of Chukwuma David Chinaka and Quincy Peter Patrick, who were prosecuted for $997,400 USD fraud, to one year imprisonment each.
The convicts were arraigned by the Economic and Financial Crimes Commission, EFCC, on a two-count charge bordering on transfer of criminal proceeds to a nominee to the tune of $997,400 USD, contrary to the Criminal Code Law of Lagos State, 2011.
Count one reads: “That you, Chukwuma David Chinaka, Quincy Peter Patrick, Emeka Clinton Ezenwa (still at large) and Chikezie Okoro ( still at large) sometime in 2017, in Lagos, within the jurisdiction of this honourable court, retained in your control, the aggregate sum of $997,400 USD( Nine Hundred and Ninety- seven Thousand, Four Hundred United States Dollars) being proceeds of criminal conduct on behalf of Chukwuma David Chinaka and others at large.”
The defendants pleaded "guilty" to the charges preferred against them by the prosecution.
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