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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KWARA COURT JAILS TWO CHINESE FOR ILLEGAL MINING. (PHOTO). #PRESS RELEASE.

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 Kwara Court Jails Two Chinese for Illegal Mining


 Justice Evelyn Anyadike of the Federal High Court sitting in Ilorin on Wednesday, May 15, 2024   convicted and  sentenced  two Chinese:  Duan Ya Hong and Xiao Yi to one year imprisonment  for offences bordering on illegal mining and possession of solid minerals without requisite licences.


The duo were arraigned on Monday, April 22, 2024 alongside their company, Ebuy Concept Limited on one-count charge bordering on illegal mining


The lone-count charge reads:

“That you, Ebuy Trading Worldwide Nig. LTD, Duan Ya Hong, Xiao Yi sometime in the Month of February 2024 at Banni, in Kaiama Local Government Area of Kwara State, within the jurisdiction of the Federal High Court, without lawful authority, purchased minerals to wit; 30 tons of minerals conveyed in a Truck, with Registration Number JJJ 386 XT and thereby committed an offence, contrary to and punishable under Section 1(8)(b) of the Miscellaneous Offences Act 1984”.


They pleaded not guilty to the charges when they were read to them.


Consequently, they were granted bail in the sum of N5million naira with two sureties each in like sum. In addition, the court ordered that they be remanded in the custody of the EFCC pending the perfection of their bail conditions. Thereafter, the case was adjourned to Tuesday, May 14, 2024 for trial.


When the case came up on Tuesday, the defendants who were yet to perfect their  bail,  opted to plead guilty to count one of the amended 11-count charge and entered a plea of not guilty to the remaining counts, prompting the court to adjourn till Wednesday for a review of facts and possible conviction.


 At the resumed sitting on Wednesday,  counsel to the EFCC, Innocent Mbachie, reviewed the facts of the case and tendered in evidence the extra-judicial statements of the defendants, photographs of the defendants, samples of the minerals, photographs of the truck and the forensic report received from the Nigeria Geological Survey Agency on the analysis of the minerals.  


The defendants,  represented by I.A Ahmed,   raised no objection to the admissibility of the exhibits tendered by the prosecution; hence, they were admitted in evidence by the court.


Delivering judgment, Justice Anyadike held that the prosecution had proved its case beyond reasonable doubt and pronounced them guilty as charged.


Consequently, the judge sentenced  Hong to one year imprisonment with an option of fine of N2million, while Yi on the other hand was sentenced to one year imprisonment with an option of N1.5million. In addition, the court ordered the interim forfeiture of the 30 tons of minerals and the truck conveying same.

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