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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COURT CONVICTS PONZI SCHEME OPERATOR IN KANO,ORDERS RETURN OF N110M TO VICTIMS.{PHOTO}.#PRESS RELEASE.

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Justice Lewis Allagoa of the Federal High Court, Kano on March 2, 2021 convicted one Maryam Abu Shinga on one count amended charge of retention of proceeds of crime. She was also ordered to pay the sum of N110, 000,000 in restitution to victims
The convict was said to have lured her victims into a phony gold mining investment where she represented that the investor stands to earn 300% profit. She claimed that when an investor invests N500, 000, such investor could earn N1, 500,000 (One Million Five Hundred Thousand Naira Only) as returns on investment over a period of 4 weeks.
Investigation, however, revealed that the convict was never into gold mining or any such investment. It was also discovered that even though Shinga was able to pay some early investors with funds taken from later investors, she allegedly diverted N394,541,910 (Three Hundred and Ninety-four Million, Five Hundred and Forty-one Thousand, Nine Hundred and Ten Naira) belonging to several other investors.
Upon arraignment, Shinga pleaded ‘not guilty’ thereby setting the stage for trial.
During the trial which commenced on January 23, 2020, the prosecution called five witnesses and tendered several documents in evidence. However, before the prosecution could close its case, the convict opted for a plea bargain.
In his judgment on Tuesday, March 2, Justice Allagoa accepted the terms of a plea bargain agreement, convicted and sentenced the defendant to restitute the complainants in the sum of N110, 000,000.
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