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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COURT VOIDS N21. 5BN MONEY LAUNDERING CHARGE AGAINST EX-CHIEF OF AIR STAFF AMOSU, OTHERS. (PHOTO).

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 Court voids N21.5bn money laundering charge against ex-Chief of Air Staff Amosu, others


Justice Chukwujekwu Aneke of the Federal High Court in Lagos on Tuesday nullified a criminal charge preferred against a former Chief of Air Staff, Adesola Amosu, and two others over alleged N21.5 billion money laundering.


The Economic and Financial Crimes Commission, EFCC, had re-arraigned the defendants on an amended 13-count charge bordering on money laundering to the tune of N21.5 billion.


Justice Aneke on Tuesday upheld a preliminary objection by the defence counsel challenging the jurisdiction of the court to entertain the case on the grounds that the defendants were serving officers of the military at the time.


It had argued that the defendants were, therefore, only subject to trial by a court martial, since they were still officers during the period.

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