- From Our Web Desk : Eastern Chronicle 24×7, The 21st November, 2024.
- Arrest Warrant Issued for Adani & Nephew.
- Adani Group firm’s Shares & Bonds Tumble.
- Adani Green Energy Bonds Deal pulled, bond prices fall.
- Indictment follows short seller Hindenburg ‘s Last year allegations.
Indian billionaire Gautam Adani has been indicted by U.S. prosecutors for his alleged Role in a 265 millions US Dollars schemes to Bribe Indian Officials plunging his conglomerate deep into crisis for second time in two years.
Multiple counts of Frauds- which U.S. Authorities say involved a firm that was listed in Newyork and affected American Investors – were leveled against Adani, who is one richest person , as well as seven other defendants.
The charges follows much turmoil for the Adani Group last year after short seller Hindenburg Research issued a report, that accused it of using offshore Tax havens improperly, which the company denied.
Shares & Bonds of Adani firms tumbled on Thursday and Adani Green Energy, the company at the Centre of Allegations. Also cancelled a 600 millions U.S. Dollars bonds sale in U.S.
Arrests warrants have been issued in United States of America for Adani and his nephew, and prosecutors from America plan to handover those warrants to foreign enforcements, (Interpol) with court records copy. Adani group said in a statement that the allegations are ‘ baseless ‘ and they denied.
U.S. federal prosecutors said, the defendants agreed to pay the bribes to Indian government official to obtain power supply contract expected 2 billions of profit over 20 years, and develop India’s Largest Solar power plant project.
They also said the Adani and another executive at Adani Green Energy, former CEO, Vneet Jain, raised more than 3 billions U.S. Dollars in Loans and Bonds, by hiding their corruption from Lenders and Investors in America.
They were charged for Security fraud, Security fraud conspiracy. Adani charged in U.S. Securities & Exchange Commission Civil Case.
The unsealed Criminal charges by the U.S. Attorney ‘s office for Newyork, showed documents refered to Goutam Adani, with a code name ‘ numero uno ‘.
Indian Opposition’s Big Party Leader, and Leader of Opposition Rahul Gandhi & Congress Party reiterated calls for a Parliamentary Investigation into alleged wrong doings by Adani Groups.