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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OGUN LG BOSS REGAINS FREEDOM FROM DSS CUSTODY. (PHOTO).

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 Ogun LG boss regains freedom from DSS custody 

The suspended Chairman of Ijebu East Local Government Area of Ogun State, Hon Wale Adedayo, detained since last Friday by the Department of State Security Services has regained his freedom.

Adedayo, who spoke with our correspondent in Abeokuta shortly after he was released, disclosed that he was summoned by the DSS based on a petition written against him that he was making inciting comments that could jeopardize public peace.

The suspended LG boss, however, said he had told the DSS that he had never uttered any inciting comments other than his allegation of local governments getting zero allocation from the state government in the last two years.

He said he remained unshaken over his travails so far and that he would definitely challenge what he called his illegal suspension from office last week Thursday.

Adedayo disclosed that the letter written to report Governor Dapo Abiodun to the former governor of the state, Chief Olusegun Osoba, was with the support of other chairmen in the state but he was surprised they could all back out of the struggle which is to primarily ensure good governance at the grassroots.

Recalled that the suspended chairman had written a letter to a former governor in the state, Osoba, alleging that the state governor, Dapo Abiodun, had hijacked public funds, while also forwarding a petition to the anti-graft agencies over the same allegations.

The Joint Account and Allocation Committee in the state saddled with the responsibility of managing the local government federal allocations has however dismissed the allegation, affirming that every fund approved by the Committee passed through the various Local Council Accounts.

 

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