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 JAILS YOBE AUDITOR GENERAL FIVE YEARS FOR FRAUD. (PHOTO).#PRESS RELEASE

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Court Jails Yobe Auditor General Five Years for Fraud

Alhaji Idris Yahaya, the Auditor General for Local Government, Yobe State, is to spend five years in prison, following his conviction today, Monday, March 13, 2023, by Justice Muhammad Lawu Lawan of the Yobe State High Court.

He was convicted after being pronounced guilty of a one count of criminal misappropriation to the tune of Nineteen Million, Nine Hundred Thousand Naira (N19, 900,000.00) preferred against them by the Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC.

Yahaya received funds from the Office of the Auditor General for Local Government and Emirate Affairs, Yobe State, for the purchase of an official vehicle, a 2015 Toyota Corolla, and diverted part of the money to his personal use.

The  one count charge reads: ''That you, Yahaya Lawal Idris, being the Auditor General for Local Government, Yobe State, between the 20th to 21st day of May, 2017 at Damaturu, Yobe State within the jurisdiction of this Honourable Court, received the sum of N19,900,000.00 via your personal account number 1001480930 with account name Alhaji Yahaya Idris domiciled in United Bank for Africa Plc (UBA) from the Local Government Audit Account Number 5030030060 domiciled in Fidelity Bank Plc for the purchase of a brand new Toyota Corolla 2015 Model, did dishonestly misappropriated the gross sum of N10,100,000.00 (Ten Million, One Hundred Thousand Naira) only.”

The convict who was first arraigned on Wednesday, November 9, 2022, had pleaded not guilty to the charges, setting the stage for his full trial. In the course of the trial, counsel for the EFCC, Mukhtar Ali Ahmed called four witnesses and tendered documents which were admitted in evidence.

Delivering judgment today, Justice Lawan held that the prosecution has proved the case against the defendant and convicted him as charged. He consequently sentenced him to 5 years imprisonment with an option of fine.

The Judge further directed the convict to pay the sum of N10, 100,000.00 (Ten Million, One Hundred Thousand Naira) in restitution to Yobe State Government through the EFCC or serve additional two years in prison.




 

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