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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N212.4M FRAUD: REPS MEMBER,MANSUR MASHI,OTHERS KNOW FATE JUNE 15.(PHOTO).#PRESS RELEASE.

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N212.4m Fraud: Reps Member, Mansur Mashi, Others Know Fate June 15

Justice Sale Musa Shuaibu of the Federal High Court, Kaduna has reserved judgment in the case of alleged N212, 439,552 fraud involving a serving House of Representatives member representing Mashi Dutsi federal constituency, Mansur Ali Mashi for June 15 and 16, 2023.

Mashi is being prosecuted by the Economic and Financial Crimes Commission for allegedly obtaining a loan facility to the tune of N212,439,552 (Two Hundred and Twelve Million, Four Hundred and Thirty Nine Thousand, Five Hundred and Fifty Two Naira) only from Sterling bank using fictitious companies. He was docked

alongside four bank officials, Abdulmumini Mustapha, Shehu Aliyu and Muazu Abdu, Hassan Usman (deceased). 

Upon arraignment, the defendants pleaded not guilty and the matter consequently proceeded to trial.

This case has suffered so many setbacks due to elevation and retirement of the trial judges.

In the course of trial, the prosecution called six witnesses.

In today’s proceedings, counsel to the parties, Douglas I. Gift for the prosecution and A.D Umar for the defendants , adopted their final written addresses.

Consequently, Justice Shuaibu adjourned the matter till June 15 and 16, 2023 for judgment.



 

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