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 ARRAIGNS MAN FOR N12M INHERITANCE SCAM IN MAIDUGURI. (PHOTO).#PRESS RELEASE.

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EFCC Arraigns Man for N12m Inheritance Scam in Maiduguri

The Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Monday, July 3, 2023, arraigned one Isyaku Ibrahim (aka Alhaji Isyaku Ibrahim), before Justice Umaru Fadawu of the Borno State High Court, Maiduguri on one count amended charge of criminal misappropriation to the tune of N12,000,000.00 (Twelve Million Naira).

Ibrahim (aka Alhaji Ishiyaku Ibrahim) sometime between 2014 and 2019 at Jajere Baga Road, Maiduguri, Borno State, being entrusted with dominion over certain properties belonging to Muhammad Ishiyaku (now deceased) to wit: (1) three houses, (2) two fenced lands one of which have seven shops, (3) two bread factories, (4) One open land, (5) two tanker trucks and (6) one big installed generator valued in the sum of N12,000,000.00 (Twelve Million Naira), criminally misappropriated the said amount for his personal use, to the detriment of the family members of the deceased and therefore committed an offence contrary to and punishable under sections 308 and 309 of the Penal Code Law of Borno State (Cap. 102 Vol. 3 of 1994) respectively.

The defendant pleaded “not guilty” to the charge preferred against him.

In view of his plea, counsel for the prosecution, S.O Saka asked the court to remand the defendant in prison custody and fix a date for trial.

Justice Fadawu, thereafter, remanded the defendant and adjourned till July 12, 2023, for the commencement of trial.



 

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