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

EFCC ARRAIGNS FATHER-IN-LAW, DAUGHTER-IN-LAW FOR ALLEGED FORGERY IN LAGOS. (PHOTO). #PRESS RELEASE.


 EFCC Arraigns Father-in-Law, Daughter-in-Law for Alleged Forgery in Lagos


The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on Monday, April 15, 2024, arraigned a father-in-law,  Alaba Alakija and his daughter-in-law, Oyinkansola Alakija before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos on an amended two-count charge bordering on alleged conspiracy and using false documents.


One of the counts reads: “Alaba Alakija and Oyinkansola Alakija, on or about the 6th day of August, 2015 at Lagos, within the jurisdiction of this Honourable Court, with intent to financially benefit from the property located at No.10, Keffi Street, South-west, Ikoyi, Lagos, conspired amongst yourselves to use a false document titled: "Vesting Deed by Dr. Omodele Alakija and Mr. Afolabi Alakija", the executors of the estate of the late Sir Ademola Alakija, purporting  same to be made by Dr. Omodele Alakija and Mr. Afolabi Alakija.”


The defendants pleaded “not guilty” to the charges when they were to them.


In view of their pleas,  prosecution counsel ,M. S. Owede prayed the court for a trial date and the remand of the defendants at a correctional facility.


Counsel to the first defendant, M.O. Akangbe, SAN, informed the court of the bail application of his client, which he said he had filed and served on the prosecution. While praying to move the application, he  urged the court to grant bail to his client in the most liberal terms.


However, counsel to the second defendant, Victor Giwa, prayed the court to move the bail application of his client orally. He told the court that he was informed about the matter late and that he came from outside the jurisdiction of the court.


Giwa further stated that his client, whom he described as a lawyer, has a two month-old baby, whom she still breastfeeds, and that she would not jump bail. However, in a dramatic twist, the second defendant’s husband debunked the claim and told the court that their baby is nine months old.


After listening to both parties,  Justice Dada granted bail to the first defendant in the sum of N10 million, with sureties in like sum, who must submit their international passports to the court.


The court, however, took possession of the passport of the second defendant.


Both defendants were released to their lawyers pending perfection of their bail conditions.


The judge adjourned the matter  to May 28, 2024 for commencement of trial.


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