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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2-STOREY BUILDING COLLAPSES IN UMUAHIA. (PHOTO).

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 2-storey building collapses in Umuahia


A two-storey building under construction in Amangwu Ohokobe Ndume, Umuahia North LGA of Abia State has collapsed.


The building which had just been roofed, collapsed on Saturday evening but fortunately, no worker was inside the house when it caved in.


The cause of the building collapse has not been established officially but some residents of Amangwu Ohokobe Ndume who spoke to Journalists after the incident blamed it on substandard materials allegedly used by the site Engineer while others blamed it on poor supervision of works.


The residents disclosed that workers were supposed to start on the interior parts of the house immediately after roofing but fortunately, it was postponed to a new date.


“The postponement was the saving grace for the workers because if they were at work when the house collapsed, who knows what would have happened to them?” Nkechi, a resident of Ohokobe said.


She added that the site Engineer had gone underground after the incident.


It would be recalled that a 3-storey building still under construction collapsed in June in Obingwu, Ukwa West LGA of Abia, killing five site workers.

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