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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MAN BAGS SIX MONTHS FOR FRAUD IN MAIDUGURI.{PHOTO}.

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    Justice Aisha Kumaliya of the Borno State High Court, Maiduguri, on Wednesday August 5, 2020, committed one Bashir Ali to six months in prison for fraud.
The convict was prosecuted by the Maiduguri Zonal Office of the Economic and Financial Crimes Commission, EFCC, on one-count charge of misappropriation to the tune of N484, 600.00 (Four Hundred and Eighty-four Thousand, Six Hundred Naira).
The charge read, “That you, Bashir Ali sometime in 2018 at Maiduguri, Borno State within the jurisdiction of this honourable court, being entrusted with dominion over certain properties to wit: N484,600.00 to Tanya Afro-Vet Consult Limited being the proceeds of sales of livestock feeds and drugs, did dishonestly misappropriate the entire sum and thereby committed an offence contrary to Section 311 of the Penal Code Laws of Borno State Cap 102 Vol.3 0f 1994 and punishable under Section 312 of the same Law.”
He pleaded guilty, upon which prosecution counsel, Benjamin Lawal Manji, prayed the court to convict and sentence him accordingly, while defence counsel, M.H Myshelia, pleaded with the court to temper justice with mercy.Justice Kumaliye convicted and sentenced Ali to six months imprisonment with N20, 000.00 fine option. The convict is also to pay up the outstanding balance of N154, 600 to his former employers, failure of which he would have to spend six years in prison.
Ali’s journey to prison followed a petition to the EFCC from Dr. Yazeed Kolo, CEO, Tanya Agro-Vet Consult Limited, in which he alleged that the convict, who was a staff of the company, made sales of livestock feeds and drugs to the tune of N484, 600.00 which he converted to his personal use.
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