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 SECURES CONVICTION OF THREE FOR N1.5BN FRAUD IN LAGOS. (PHOTOS).#PRESS RELEASE.

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EFCC Secures Conviction of Three for N1.5bn Fraud in Lagos


The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Thursday, May 18, 2023, secured the conviction and sentencing of the trio of Semiu Oladiti, Owolabi Azeez and Nnagbogu Chikelu Nicodemus, who were prosecuted for a N1.5 billion fraud, before Justice O.O. Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos. 


Nnagbogu was arraigned on an amended one-count bordering on stealing to the tune of N15 million.


However, Azeez and Oladiti were arraigned separately alongside Dauda Adeboyega, Ojo Samson Gbemi, and Zuraai Gold Ventures Limited on an amended 13-count charge bordering on stealing to the tune of N1,598,144,188.36 (One Billion, Five Hundred and Ninety-Eight Million One Hundred and Forty-four Thousand, One Hundred and Eighty-eight Naira Thirty-six Kobo).


The count against Nnagbogu reads: "Nnagbogu Chikelu Nicodemus, between January 2023 and 18th January 2023 in Lagos, within the jurisdiction of this Honourable Court, dishonestly converted to your use the total sum of N15, 000,000.00 property of British Airways."

 

He pleaded "guilty" to the charge, following a plea bargain. 


One of the counts against the other defendants reads: "Dauda Adeboyega, Ojo Samson Gbemi, Semiu Oladiti, Owolabi Azeez, and Zuraai Gold Ventures Limited, between October 2019 and 31st January 2023 in Lagos, within the jurisdiction of this Honourable Court ,conspired amongst yourselves to commit felony, to wit: stealing of the total sum of N1,598,144,188.36 property of British Airways."


While Azeez and Oladiti pleaded "guilty", following a plea bargain, the other defendants pleaded "not guilty".

 

In view of this, the prosecution counsel, A.O. Mohammed, adopted the plea bargain along with the review of the facts.


Consequently, Justice Abike-Fadipe convicted and sentenced Nnagbogu, Azeez and Oladiti to one-year in prison and ordered them to forfeit the sum of N15 million raised by them as restitution to British Airways

More  photos below. 




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