{
}
Former NYPD officer Jason Rodriguez pleaded guilty to conspiracy to commit wire fraud, admitting to deceiving investors in his foreign exchange fund, Technical Trading Team, which lost nearly $3.5 million of the $4.8 million invested. Rodriguez falsely promised safeguards and misappropriated funds for personal luxuries, while his co-founder, Edwin Carrion, also pleaded guilty earlier this year. The Commodity Futures Trading Commission has filed a civil lawsuit against them for misleading investors about their trading practices.
Gautam Adani and executives from Adani Group face U.S. federal charges for a massive bribery scheme involving $265 million in bribes to Indian officials to secure energy contracts. The allegations have led to significant market repercussions, including steep declines in Adani's stock and bond values, raising concerns about foreign investment in India. The SEC has labeled the actions a "massive bribery scheme," while Adani Group denies the allegations, asserting its commitment to governance and compliance.
Adani Group's market capitalization plummeted by Rs 2.2 lakh crore on November 21, with stocks falling up to 20% following US bribery charges against Gautam Adani. Prosecutors allege he and other executives paid over $250 million in bribes to secure solar energy contracts, violating federal laws while raising $1.36 billion from American investors. Just hours before the allegations, Adani raised an additional $600 million through green dollar bonds from US investors.
Indian billionaire Gautam Adani has been indicted in New York for allegedly orchestrating a bribery scheme involving Indian officials to secure solar power contracts worth billions. Alongside seven executives, including his nephew, he faces charges of securities fraud and conspiracy, which could exacerbate the ongoing public relations crisis for Adani Group following previous allegations of accounting fraud. The SEC claims that the defendants misled US investors about their anti-bribery compliance while raising significant capital during the scheme.
Breon S. Peace
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
former new york cop pleads guilty to forex fund fraud scheme
21:24 21.11.2024
adani group faces serious allegations of bribery and fraud in us investigation
United States Dollar
Indian Rupee
Adani Enterprises Limited
Adani Group
DBS Group Holdings Ltd
State Bank of India
Azure Power Global Limited
Adani Green Energy Limited
IND
USA
Breon S. Peace
Narendra Modi
Vneet Jaain
Donald Trump
James Dennehy
Gautam Adani
Show more
18:47 21.11.2024
Adani Group faces 2.2 lakh crore loss amid US bribery allegations
United States Dollar
Adani Wilmar Limited
NDTV
Ambuja Cements Limited
ACC
Adani Power Limited
Adani Enterprises Limited
Adani Energy Solutions Limited
Adani Total Gas Limited
Adani Ports
Adani Green Energy Limited
IND
Gautam Adani
Vneet Jaain
Breon S. Peace
Sagar Adani
Show more
07:24 21.11.2024
gautam adani indicted for bribery in solar power contracts scheme
Adani Green Energy Limited
Azure Power Global Limited
USA
IND
Gautam Adani
Breon S. Peace
Sagar Adani
Sanjay Wadhwa
Narendra Modi
Show more
22:39 20.11.2024
Trending
Subcategory
Corporate News
Cryptocurrency Trends
Industry Trends
Venture Capital Investments
Emerging Startups
Funding Rounds & Investments
Crypto Adoption and Integration
Fintech Startups
AI Innovations
Startups & Entrepreneurship
AI Applications
Retail and Consumer Goods
Crypto Policies and Governance
Product Launches
Workplace Trends
Economic Indicators
Central Banks and Digital Currencies
IPOs of Tech Companies
Market Analysis and Predictions
Banking Regulations
Countries:
Companies:
Apple Inc.
Nvidia Corporation
DEUTSCHE BANK AG
EVOLUTION JAPAN Securities Co. Ltd.
Alphabet Inc.
Marvell Technology Inc.
Playtika Holding Corp.
Colugo Systems Ltd.
Gemini Trust Company LLC
Circle Internet Financial Inc.
Citigroup Inc.
Bank of America Corporation
Sony Corporation
Zero Networks Ltd.
Ecom Express Ltd.
Minebea Mitsumi Inc.
VOLKSWAGEN AG
Currencies:
People: