Adani family’s partners used ‘opaque’ funds to invest in its stocks

via “opaque” Mauritius funds that “obscured” involvement of alleged business partners of the Adani family, the Organised Crime and Corruption Reporting Project says.

Adani Group has called Hindenburg’s claims misleading and without evidence and said it always complied with laws.Days following the January report, though, Adani group stocks lost $US150 billion in market value. They remain down around $US100 billion following a recovery after it repaid some debt and regained some investor confidence.

The Hindenburg report significantly hit Gautam Adani, the billionaire who leads the ports-to-energy conglomerate and was until January the world’s third-richest person. The crisis forced him to shelve a $US2.5 billion share sale and convince banks about his business credentials.India’s Supreme Court later appointed a panel to oversee a market regulator probe based on the Hindenburg report.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How a 2000s teen heart-throb found himself investigating stock market fraudWhile Kim Kardashian and Matt Damon were promoting cryptocurrency to their fans, The OC’s Ben McKenzie was uncovering more and more red flags.
Source: smh - 🏆 6. / 80 Read more »

How a 2000s teen heartthrob found himself investigating stock market fraudWhile Kim Kardashian and Matt Damon were promoting cryptocurrency to their fans, The OC’s Ben McKenzie was uncovering more and more red flags.
Source: theage - 🏆 8. / 77 Read more »