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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CHINESE NATIONAL 'DENG' JAILED 5YEARS FOR ILLEGAL MINING IN KWARA.(PHOTO).#PRESS RELEASE.

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Chinese National, Deng Jailed 5years for Illegal Mining in Kwara

Justice Muhammed Sani of the Federal High Court sitting in Ilorin on Wednesday, October 19, 2022, convicted and sentenced a 29-year-old Chinese National, Gang Deng, to five years imprisonment for offences bordering on illegal mining and possession of minerals without lawful authority.

Gang was arrested along Tsaragi Road in Share, Edu Local Government Area of Kwara State on Friday, September 9, 2022 by the Ilorin Zonal Command of the EFCC. He was found to be in possession of 25 tons of minerals suspected to be Lepidolite, a raw material used for the production of batteries for vehicles, cell phones, cameras and other electronic devices.

It would be recalled that operatives of the EFCC, in collaboration with the Kwara State Command of the Nigeria Security and Civil Defence Corps, NSCDC and the Federal Ministry of Mines and Steel Development on August 30, 2022, arrested 13 suspected illegal miners operating in Kakafu village in Patigi Local Government Area of Kwara State.

Mining without license is a criminal offence under the law. It is an act of economic sabotage, punishable under Section 1 (8) of the Miscellaneous Offences Act, which stipulates life imprisonment for offenders.

The Chinese National who is the Managing Director of Sinuo Xinyang Nigeria Ltd, confessed to the crime.

Consequently, the Ilorin Command of the EFCC arraigned Gang alongside his company Sinuo Xinyang Nigeria Ltd on one count amended charge before Justice Sani. When the charge was read to the defendant, he pleaded guilty, but entered “not guilty plea” for his company.  

The court, thereafter adjourned till November 17, 2022 for hearing in the case of the convict’s company, Sinuo Xinyang Nigeria Ltd.



 

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