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 SENSITIZES REAL ESTATE OPERATORS, WARNS AGAINST MONEY LAUNDERING.(PHOTOS).#PRESS RELEASE.

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EFCC Sensitizes Real Estate Operators, Warns Against Money Laundering

The Economic and Financial Crimes Commission, EFCC, has charged real estate operators in Lagos to ensure due diligence on their customers as a way of checking the menace of money laundering and terrorist financing in the country.

The Lagos Zonal Commander of the EFCC, Michael T. Wetkas, gave the charge today, June 27, 2023,  in his address to participants at a sensitisation workshop on Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation Financing, AML/CFT/CPF organized by the Special Control Unit against Money Laundering, SCUML at the Lagos Zonal Command of the EFCC, Ikoyi.

He said “Registration with SCUML has become necessary as a way of monitoring and reducing the risk of subversive use of the real estate operators by money launderers and terrorism financiers”.

Wetkas urged the Designated Non-Financial Businesses and Professions, DNFBPs, to conduct due diligence and adhere to the principle of Know Your Customers, KYC, before consummating any transaction.

Also, in his remarks, the Coordinator, SCUML, Lagos, Paschal Samu, said the workshop was designed to enlighten the real estate operators on their roles in complying with Money Laundering Act, 2022.

He assured the participants that the EFCC would continue to engage the stakeholders through sustained enlightenment activities on the need for DNFBPs to key into the activities of SCUML.

In her presentation on “Anti-Money Laundering Policy, Controls and Procedures”, ACE Korede Abdul-Aziz enlightened the participants on how to identify and report suspicious transactions, warning that failure to report such activities or transactions would attract sanctions or penalties.

She urged the operators to build the capacity of their staff and appoint Compliance Officers in line with provisions of the Money Laundering Act, 2022. 

Akintoye Adeoye, the Vice President, Real Estate Developers of Nigeria, REDAN, applauded the SCUML for its continuous efforts in sensitising the public on the menace of money laundering. 

He also expressed readiness to spread the message to other developers.

More photos below. 






 

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