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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COURT JAILS TWO FOR INTERNET FRAUD IN KADUNA.(PHOTO).#PRESS RELEASE

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 Court Jails Two for Internet Fraud in Kaduna 

 

Justice Hauwa'u Bubari of the Federal High Court, sitting in Kaduna has convicted and sentenced the duo of Audu Ishida and Elisha Smith to six years imprisonment  for fraud.

 

They were prosecuted by the Kaduna Zonal Directorate of the Economic and Financial Crimes Commission EFCC on a separate-count charge, bordering on

impersonation, retention of proceeds of fraud and money laundering.

 

Smith’s charge reads: “That you Elisha Smith (m) sometime in May, 2024, in Jos South, Plateau State, within the jurisdiction of this honorable court, retained the total sum of N808,234.02(Eight Hundred and Eight Thousand, Two Hundred and Thirty-four Naira Two Kobo only), in your account no.9030090284, domiciled at Palmpay Bank Ltd with account name:Elisha Smith Anzaina which you knew that such fund forms part of proceeds of an unlawful act and thereby committed an offence contrary to Section 18(2)(d) of the Money Laundering (Prevention and Prohibition)Act, 2022 and punishable under Section 18(3) of the same Act.”

 

That of Ishida reads: “That you Audu Ishida (Baddie Kylemili) on or about the 2nd of June, 2024 in Jos, within the jurisdiction of this honorable court, retained the total sum of $50 U.S  from your victim, which you reasonably ought to have known forms parts of proceeds of an unlawful act and you thereby committed an offence contrary to Section 20(a) of the Money Laundering (Prevention and Prohibition)Act,2022 and punishable under Section 20(b) of the same Act.” 

 

They pleaded “guilty” to the charges when they were read to them, prompting prosecution counsel, M.E Eimonye to urge the court to convict and sentence them accordingly. 

 

After listening to the plea of the defence counsel, the judge convicted and sentenced Smith to four years imprisonment or to pay a fine of N500,000.00 (Five Hundred Thousand Naira), while he convicted and sentenced Ishida to two years imprisonment or to pay a fine of N400,000 (Four Hundred Thousand Naira). 

 

Beside their prison terms, they forfeited their mobile phones, a Samsung Galaxy S10e  and one Oppo F1s

 

Both convicts were arrested in Jos, Plateau State, following intelligence that linked them with fraudulent internet activities.

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