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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EX-GOV OF DELTA STATE IFEANYI OKOWA, ARRESTED BY THE EFCC. (PHOTO).

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 Former Delta Governor, Ifeanyi Okowa Arrested By EFCC Over Alleged Diversion Of N1.3trn


By Freeborn Abraye


Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a former Governor of Delta State, Ifeanyi Okowa, for alleged diversion of N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.


Okowa was arrested on Monday, November 4, 2024, in Port Harcourt, Rivers State, when he reported at the Port Harcourt Directorate of the EFCC on the invitation of investigators handling his matter.


The former governor was alleged to have failed to render accounts of the funds as well as another N40 billion he allegedly claimed he used to acquire shares in UTM Floating Liquefied Natural Gas.


Specifically, Okowa allegedly bought shares worth N40 billion in one of the major banks in the country representing 8% equity to float the offshore LNG. The funds were alleged to be used for other purposes.


Investigators are also investigating the diversion of funds by the former governor to acquire estates in Abuja and Asaba in Delta state.


He is being held at the EFCC holding facility in Port Harcourt.

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