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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EMEFIELE APPROVED CONTRACTS, PAYMENTS FOR WIFE, BROTHER-IN-LAW- WITNESS. (PHOTO). #PRESS RELEASE

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 Emefiele Approved Contracts, Payments for Wife, Brother-in-law - Witness


The Seventh Prosecution Witness, (PW7) in the trial of former governor of Central Bank of Nigeria, (CBN), Mr. Godwin Emefiele on Monday, June 24, 2024 told Justice Hamza Muazu of the Federal Capital Territory, FCT, High Court, Abuja, that Emefiele signed and approved contract awards and payments to April 1616 Investment Limited and Architekon Nigeria Limited, which are companies owned by Sa’adatu Ramalan Yero, a staff of the apex bank, his wife Margaret and her brother, Jonathan Omoile respectively.

The witness, Agboro Michael, an  investigator with the Independent Corrupt Practices and Other Related Offences Commission,  ICPC, who is a member of  inter-agency investigation team that comprise the EFCC, ICPC, Code of Conduct Bureau,  CCB, Department of State Services, DSS and the Nigeria Police Force during his cross-examination by defence counsel, Mathew Burkaa, (SAN) said that Emefiele was the approving authority of the contracts awarded to both companies having endorsed all the contract award documents and given approval for payments to the companies.

 

Burkaa identified exhibits F24 to F44 which are letters from the CBN to April 1616 Investments Limited, for the award of contracts for the supply of cars to the apex bank as well as documents showing requests for payments from the company to the CBN for the delivery of the cars, all signed by Emefiele.

 

 Similarly, the witness identified exhibits A1 to A8, as documents containing memos from CBN for the award of contracts to Architekon Nigeria Limited, belonging to Emefiele’s wife and her brother for the renovation of the CBN governor’s residence, provision of dedicated power lines and supply of furniture as well as requests of payments in respect of the contracts to the company, all approved by Emefiele.

 

Justice Muazu admitted the exhibits in evidence and adjourned the matter till 25, 2024 for re-examination of the witness.

 

The former CBN governor is standing trial before Justice Muazu on amended 20 count-charges that border on conferment of corrupt advantages, conspiracy, criminal breach of trust, forgery and obtaining by false pretence.

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