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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ALLEGED N100M BRIBE: TRIAL OF CHINESE BEGINS JUNE 29.{PHOTO}.

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    The trial of two Chinese: Meng Wei Kun and Xui Kuoi of China Zhongao Nigeria Ltd., slated to begin , Monday, June 15, 2020 before Justice Muhammad Sa'idu Sifawa of the Sokoto State High Court, could not go on as planned, following the withdrawal of defence counsel, Ahmed Raji & Co from representing the defendants. Based on this, commencement of their trial is now slated for June 29, 2020.
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The defendants are facing prosecution by the Economic and Financial Crimes, EFCC, for allegedly offering to bribe the Sokoto Zonal Head of the Commission, Mr. Abdullahi Lawal to the tune of N100,000 (One Hundred Million), out of which a part payment of N50,000.000.00 (Fifty Million Naira) in cash was offered on May 12, 2020. The suspects were promptly arrested by officers of the Commission.
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