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 JAILS MAN FOR N12M INHERITANCE FRAUD IN MAIDUGURI. (PHOTO). #PRESS RELEASE.

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 Court Jails Man for N12m Inheritance Fraud in Maiduguri


The Maiduguri Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Wednesday, April 24, 2024, secured the conviction and sentence of one Isiyaku Ibrahim before Justice Umaru Fadawu of the Borno State High Court, Maiduguri.


He was arraigned on July 3, 2023, on  one-count charge bordering on criminal misappropriation to the tune of N12,000,000.00 (Twelve Million Naira only).wn personal use, to the detriment of the family members of the deceased and

The charge reads: "That you Isiyaku Ibrahim and Mallam Ibrahim sometime between 2014 to 2019 at Jajere Baga Road, Maiduguri, Borno State within the jurisdiction of this Honourable Court, being entrusted with dominion over certain properties belonging to Muhammad Isiyaku (now deceased) to wit: (1) Three Houses, (2) Two fenced lands one of which had seven shops, (3) two bread factories, (4) one open land, (5) two truck tankers and (6) one big installed generator, valued at N12,000,000.00 (Twelve Million Naira) only and thereby criminally misappropriated the said amount to your personal use, to the detriment of the family members of the deceased and therefore committed an offence contrary to section 308 of the Penal Code Cap 102 Laws of Borno State and Punishable under section 309 of the same law.” the same law.”

The defendant pleaded “not guilty” to the charge and the matter proceeded to trial, which prompted prosecution counsel, Faruqu Muhammad who presented six witnesses and tendered several documents as exhibits before the court.

 

Justice Fadawu convicted and sentenced him to one-year imprisonment with an option of N100,000 (One Hundred Thousand Naira) fine for the offence of criminal Misappropriation.

 

Ibrahim bagged his imprisonment when he was arrested by operatives of the Maiduguri Zonal Command of the EFCC for misappropriating properties of a deceased person entrusted to his care.  The properties comprise three houses, two fenced lands one of which had seven shops, two bread factories,  one open land,  two truck tankers and one big installed generator, valued at N12,000,000.00 (Twelve Million Naira).  He was charged to court and convicted.

 

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