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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ABIA LAWMAKER CALLS FOR STATE OF EMERGENCY AS EROSION SACKS CONSTITUENTS.(PHOTO).

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Abia Lawmaker Calls For State Of Emergency As Erosion Sacks Constituents

Member representing Bende North state constituency in the Abia State House of Assembly, Hon. Nnamdi Ibekwe, has called for a declaration of state of emergency on erosion menace ravaging the constituency.

The lawmaker made the call while addressing newsmen in Umuahia over the latest erosion incident that rendered many locals homeless at Umuenyere, Alayi Community in Bende Local Government Area.

He said that over five houses were washed away by the latest incident and farm lands and crops worth millions of Naira destroyed.

 “Many people now live as refugees in their ancestral community”, the lawmaker lamented.

Hon. Ibekwe said there are over 100 active erosion sites in the constituency alone with about 20 posing existential threat to the people.

He identified Umuenyere Alayi, Oluibina Igbere, Ezi Igbere, Amekpu Item and Okafia as the epicenters of the menace.

“Over five houses have been destroyed, farmlands the crops seriously affected; many people can no longer farm because their farm lands have been seriously ravaged”, he added.

“It’s an emergency situation because when people can no longer access their homes built with their life savings, it’s a disaster”.

He also called on the National Emergency Management Agency, NEMA, and its state counterpart to quickly send relief materials to the affected constituents to help cushion the effects of the disaster.


 

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