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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EFCC ARRAIGNS ONE FOR TEARING ITS INVESTIGATION LETTERS. (PHOTOS). #PRESS RELEASE.

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 EFCC Arraigns One for Tearing its Investigation Letters

 

The Gombe Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on June 11, 2024  arraigned one Usman Mallam for allegedly tearing EFCC's official Investigation Activities’ letters and obstructing The Commission's investigation  before Justice TG Ringim  of the Federal High  Court sitting in Gombe, Gombe State.

 

Mallam, a desk officer in charge of responding to official correspondences   in the office of the Secretary to the State Government, (SSG) Gombe State,  was arraigned on a one - count charge of willful obstruction of investigation activities and tearing  official documents of the EFCC. 

 

The  lone charge against Mallam reads "that you, Usman Mallam on or about 26th day of February 2024 at Gombe, Gombe State within the jurisdiction of this honourable court while the officers of the Economic and Financial Crimes Commission, EFCC were carrying out an investigation activity involving an alleged economic and financial crime, did willfully obstruct the said investigation by tearing the EFCC formal letters of investigation activities dated  January 1, 2024 and February 21, 2024 respectively"  and thereby committed an offence contrary to Section 38 (1) and punishable under Section  38 (2) (a) and (b) of the Economic and financial Crimes Commission Establishment Act".

 

Upon arraignment, the defendant pleaded not guilty to the one count  charge, prompting the prosecution counsel AM Labaran to say, " My Lord,   the defendant has put himself to trial hence we shall be asking for a date for trial ". However , counsel to the defendant, SS Usman said, " My Lord, we have a bail application dated July 11, 2024 , we are asking the court to exercise its  discretion and grant the defendant bail”

 

Justice Ringim thereafter granted the defendant bail in the sum of N10,000( Ten Million Naira)  and one surety in like sum . The surety shall be a director in a government establishment or a private company with  a capital worth  of not less than N10,000,000.


In addition to the conditions,  the Registrar of the court should verify the identity of the surety and both the surety and the defendant shall submit two passport photographs to  the court .

 

Justice Ringim  remanded the defendant in Gombe State Correctional Service pending the fulfilment of the bail conditions and adjourned the case to July 9, 2024 for trial.

One more photo below. 


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