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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SA'S ZUMA TO KNOW PRESIDENTIAL BID FATE ON MONDAY.(PHOTO).

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SA's Zuma to know presidential bid fate on Monday


South Africa's former President Jacob Zuma will know the fate of his presidential bid on Monday, when the constitutional court will give its verdict.


South Africa's former President Jacob Zuma will know the fate of his presidential bid on Monday, May 20.


The country's constitutional court said in a statement on Sunday that it will rule on whether Zuma's conviction for contempt of court in June 2021 "disqualifies" him from "standing as a candidate for the National Assembly."


For a candidate to qualify for the presidential seat in South Africa, they must be eligible to serve as a member of parliament.


Zuma was slapped with a 15-month jail sentence for refusing to give evidence to a commission investigating corruption allegations against him during his rule as president from 2009 to 2018.

 

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