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 BUSINESSMAN FOR N1. 1M FRAUD IN MAIDUGURI. (PHOTO).#PRESS RELEASE..

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 Court Jails Businessman for N1.1m Fraud in Maiduguri


Justice Aisha Kumaliya of the Borno State High Court, Maiduguri on Tuesday, November 5, 2024 convicted and sentenced Ali Bukar Jidda to six months imprisonment.

 

He was jailed upon being arraigned by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,  on one-count charge bordering on misappropriation  to the tune of N1, 126,000.00( One Million, One Hundred and Twenty Six Thousand Naira only).


The lone-count charge reads: “That you, Ali Bukar Jidda, that sometime in June, 2020 at Maiduguri, Borno State within the jurisdiction of this Honourable Court, being entrusted with dominion over certain properties to wit; N1, 126,000.00  by Umar Odo Soja, for supply of food items did dishonestly misappropriated the said sum and you thereby committed an offence contrary to Section 311 of the Penal Code Act Cap 102 Laws of Borno State of Nigeria and punishable under Section 312 of the same law.”


The defendant pleaded “guilty” to the charge when it was read to him.


 Prosecution counsel,  S.O Saka prayed the court to convict him as charged, while counsel for the defendant A. M Umar pleaded with the court to temper justice with mercy. 


Justice Kumaliya thereafter convicted and sentenced Jidda to a fine of N100,000.00 ( One Hundred Thousand Naira only)or six months imprisonment.


The convict bagged his imprisonment for misappropriating a sum of N1.1million entrusted to him for the supply of food items. He neither delivered the items nor returned the money to the petitioner.  

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