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 ONDO STATE SPEAKER, TWO OTHERS FOR FRAUD.(PHOTOS).#PRESS RELEASE.

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EFCC Arraigns Ondo State Speaker, Two Others for Fraud

The Economic and Financial Crimes Commission, EFCC on Tuesday, April 25, 2023, arraigned the Speaker of Ondo State House of Assembly,   Oleyelogun David Bamidele and two others before Justice Adegboyega Adebusoye of the Ondo State High Court for fraud. The two others are Felemu Olusegun Gudubankole, Chairman, House Committee on Tertiary Institutions and Oyadeji Oludeji, Secretary to the House Committee on Tertiary Institutions.

They were arraigned by the Benin Zonal Command of the EFCC on a two count charge bordering on conspiracy and using their office to confer corrupt or unfair advantage on themselves.

Oleyelogun, Gudubankole and Kayode are alleged to have conspired amongst themselves to engage in corrupt practices by receiving and retaining the sum of N2,440,000.00 which was meant for a seminar which they never attended.

They pleaded not guilty to the charge when it was read to them, prompting the prosecution counsel , K.U.Udus to ask the court for a trial date and remand the defendants.  However, counsel to the defendants, F.E. Emodamore urged the court to discountenance EFCC's prayer and allow the defendants to continue on their administrative bail, claiming that one of the defendants had health challenge that requires medical attention.

Justice Adebusoye ruled that the defendants should continue on their administrative bail and  adjourned the matter till May 18, 2023 for trial.

More photos below. 


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