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 IBADAN BUSINESS WOMAN FOR N13M DUD CHEQUE. (PHOTO). #PRESS RELEASE

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 EFCC Arraigns Ibadan Business Woman for N13m Dud Cheque


 The Ibadan Zonal Command of the Economic and Financial Crimes Commission, EFCC, has arraigned a business woman,  Oluwabiyi Peace before Justice O.A. Adeyemi of the Oyo State High Court, sitting in Ibadan for issuing a dud cheque worth N13,000,000 (Thirteen Million Naira) to a customer. 


She was arraigned on Wednesday, February 14, 2024 alongside her company, Just Series Nigeria Limited on a one-count charge bordering on issuance of dishonoured cheque.


The One Count Charge Reads: “That you Oluwabiyi Peace and Just Series Nigeria Limited, on or about the 29th of June, 2021 at Ibadan within the jurisdiction of this Honourable Court, issued First City Monument Bank Plc Cheque No. 0037862154, dated 29th of June, 2021 in the sum of (N13, 000, 000.00) Thirteen Million Naira only, made payable to Nuru Bello, which when presented for payment within three months was dishonoured on the grounds that no funds or insufficient funds were standing to the credit of the account on which the Cheque was drawn, thereby committed the offence of issuance of dishonoured cheque contrary to Sections 1 (1) (a) and 1 (1) (i) of the Dishonoured Cheque (Offences) Act, Cap D 11 Laws of the Federation of Nigeria, 2004.”


She pleaded “not guilty” when the charge was read to her.


Following her not guilty plea, prosecution counsel Mabas Mabur asked the court for a trial date and prayed the court to remand the defendant in the Correctional Center.  


However, defence counsel, A.A. Maisolati  informed the court of a bail  application filed and served on the prosecution on behalf of his client. He prayed the court to admit his client to bail in most liberal terms.


After listening to the prayers of the counsels, Justice Adeyemi admitted the defendant to bail in the sum of N5million (Five Million Naira) only and two sureties in like sum. The sureties must be property owners in Oyo State.


The court further ordered that the defendant be remanded in the EFCC detention facility pending the perfection of her bail conditions.

The judge adjourned the matter  to March 27, 2024 for trial.

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