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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OYO SUSPENDS SAKI WEST LG BOSS OVER MISAPPROPRIATION OF N63M .(PHOTO).

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OYO SUSPENDS SAKI WEST LG BOSS OVER MISAPPROPRIATION OF N63M 


Oyo State House of Assembly has suspended the Chairman of Saki West Local Government, Sharafadeen Omirinde, over allegations of misappropriation of funds.

The suspension came after a petition was brought to the house by members of the local government legislature and signed by over two-third of the Councilors in Saki West LG. 

Omirinde was accused of illegally diverting the sum of 63 million naira belonging to the Local Government into a private purse, religious bigotry, anti-party activities among others.

The House declared Omirinde suspended on Tuesday during its plenary sitting. 

The House also directed the vice chairman of the local government to take over while Omirinde steps aside to allow for proper investigation by concerned committee of the house.

 

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