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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SIMBI WABOTE DENIES EFCC ARREST, CLARIFIES INVESTIGATION DETAILS. (PHOTO).

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 Simbi Wabote Denies EFCC Arrest, Clarifies Investigation Details


Engr. Simbi Wabote, the former Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), has dismissed reports claiming he was arrested by the Economic and Financial Crimes Commission (EFCC). In a statement made on Wednesday, Wabote clarified that he was never detained, but instead responded to a routine invitation from the EFCC. He explained that he attended the EFCC office on Tuesday, October 31, 2024, at 2:00 p.m. and left at 6:30 p.m. after providing a statement.


Wabote also addressed the allegations regarding NCDMB's investment in Atlantic International Refinery and Petrochemical Limited. He stated that the refinery project, located in Bayelsa State, was not involved in any fraudulent activity, but was facing cash flow challenges. He emphasized that while NCDMB invested in 17 different projects, most were progressing well, and the Atlantic refinery was the only one experiencing difficulties. The project's promoter, he explained, had not abandoned the project and had even proposed a buyout plan due to financial constraints.


Wabote expressed his disappointment with the media for spreading false information that he believed aimed to tarnish his reputation.

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