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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WE WILL NO LONGER TOLERATE OBSTRUCTION OF OUR OPERATIONS. (PHOTO). #PRESS RELEASE.

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 We Will No Longer Tolerate Obstruction of Our Operations

 

The Economic and Financial Crimes Commission wishes to warn members of the public that it is a criminal offence to obstruct officers of the Commission from carrying out their lawful duties.

 

Section 38(2)(a(b) of the EFCC Establishment Act makes it an offence to prevent officers of the Commission from carrying out their lawful duties. Culprits risk a jail term of not less than five years.

 

This warning becomes necessary against the background of the increasing tendency by persons and groups under investigation by the Commission to take the laws into their hands by recruiting thugs to obstruct lawful operations of the EFCC.

 

On several occasions, operatives of the Commission have had to exercise utmost restraint in the face of such provocation to avoid a breakdown of law and order. Regrettably, such disposition is being construed as a sign of weakness.


The Commission, therefore, warns that it will henceforth not tolerate any attempt by any person or organisation to obstruct its operation as such will be met with appropriate punitive actions.

 

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