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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MAIDUGURI COURT JAILS MAN ONE YEAR FOR N9.9M FRAUD.(PHOTO).#PRESS RELEASE

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Maiduguri Court Jails Man One Year for N9.9m Fraud

Justice Aisha Kumaliya of the Borno State High Court, Maiduguri has convicted and sentenced David Osigbe Irumekhai to one year imprisonment for criminal misappropriation to the tune of N9,900,000( Nine Million, Nine Hundred Thousand Naira only).

The defendant was first arraigned on December 8, 2022, on one- count charge bordering on criminal misappropriation to the tune of N9.9 m.

The charge reads: “That you, David Osigbe Irumekhai sometime in November, 2020 in Maiduguri, Borno State within the jurisdiction of this Honourable Court dishonestly converted to your own use the total sum of Nine Million Nine Hundred Thousand Naira (N9, 900,000.00) being money belonging to Nuhu Titus and thereby committed an offence contrary to Section 308 of Penal Code Law Cap 102, Laws of Borno State 1994 and punishable under Section 309 of the same Law.”

Irumekhai pleaded not guilty to the charge, prompting a full trial of the case by the Maiduguri Zonal Command of the EFCC.
EFCC's counsel, Mukhtar Ali Ahmed presented three witnesses and tendered several documents in evidence as exhibits.
In her judgment, Justice Kumaliya found Irumekhai guilty, convicted and sentenced him to a fine of N200, 000.00 (Two Hundred Thousand Naira only) or one year imprisonment. She further ordered the convict to pay a balance of N9.4million to his victim or serve additional six years imprisonment.

 Irumekhai's journey to the Correctional Centre began when he converted the sum of N9.9million belonging to Nuhu Titus to his own use. All efforts to make him repay the money proved abortive.

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