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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EFCC ARRAIGNS BUSINESSMAN OVER N10 MILLION DUD CHEQUE.[PHOTO].#PRESS RELEASE.

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The Benin Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Thursday July 29, 2021 arraigned one Paschal Okirika before Justice Anthony Olotu Akpovi of the Delta State High Court sitting in Warri.


Okirika was arraigned on a two count charge of issuance of dud cheque.


The charge against the defendant reads: "That you Pashcal Okirika on about 30th of October, 2017 being the managing director of Okipas Limited , in Delta State within the jurisdiction of this Honourable Court, induced First Bank Plc to offer to you a credit facility of N10,000,000.00 (Ten Million Naira) to dredge and stockpile 30,000 cubic meter of sharp sand to be supplied to Setraco Nigeria Limited for 90 days, by issuing a Diamond Bank Plc cheque No. 0062144789, in the sum of N3,000,000.00 (Three Million Naira) drawn on account 0062144798 with account name Okipas Limited, domiciled in Diamond Bank Plc in favour of CAM Recovery Account of First Bank Plc as part payment,  which cheque when presented for payment was dishonoured on the ground that no sufficient funds was standing to your credit and thereby committed an offence contrary to Section 1(1)(a) and b of the Dishonoured Cheques (Offences)Act and punishable under section 1(1) (b) of the same Act."


The defendant pleaded not guilty to the charges when they were read to him.


In view of his plea, the prosecution counsel, Onyeka Ekweozor prayed the count to fix a date for trial and remand the defendant at the Correctional Centre. However, counsel to the defendant, P. K. Ederi pleaded with the court to grant his client bail, saying the offence was bailabĺe.


Justice Akpovi granted the defendant bail in the sum of N1milliion with one surety in like sum. The surety must swear to an affidavit of means and should reside within the jurisdiction of the court.

The case was adjourned till October 4 and 5, 2021 for trial.

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