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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F.H.C RESERVES RULING ON BAIL APPLICATION OF RIVERS REPS MEMBER.(PHOTO).

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Federal High Court Reserves Ruling On Bail Application Of Rivers Reps Member

March 14, 2023

Federal High Court sitting in Port Harcourt has reserved judgement in the bail application on the money laundering case against Member Representing  Port Harcourt Federal Constituency 2  Mr.Chinyere Igwe.

The lawmaker  was alleged to have on the 24th of February, 2023 seen in  possession of  the sum of four hundred and ninety-eight thousand US Dollars.

When the matter was called, Principals prosecuting counsel from the Attorney General office of Rivers State  applied to take over the prosecution from the police, which was not opposed by the defendant counsel but insisted to move the motion for the bail application.

  Presiding Judge, Justice Stephen Daylop-Pam ruled that the principal prosecutor from the Ministry of Justice takes over the case and reserved judgement on the bail application.

Justice Daylop-Pam also adjourned to the 4th of May 2023 for the substantive case to commence and ordered that the defendant be remanded in Police custody.

Speaking to Journalists outside the court, principal prosecuting counseling Chidi Ekeh said the state applied to take over the prosecution of the matter from the Police which the application was granted .

Meanwhile, Defense Counsel, Reuben Wanoghor said they had filed motion for the bail of the defendant and the motion was adjourned  for hearing.

Mr.Wanoghor added that they are not disappointed with the adjournment of the case.


 

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