Lucknow Press
American research firm Hindenburg has made another sensational claim regarding Adani Group. In which the research firm has alleged that Adani Group has been investigated for money laundering and fraud. Swiss Bank has frozen more than $310 million (about Rs 2600 crore) in several bank accounts of Adani.
According to the latest report of Hindenburg, investigations are going on against Adani Group in the case of money laundering and fraud since the year 2021. Hindenburg Research wrote in its post, “Swiss authorities seized more than $310 million in several Swiss bank accounts in early 2021 as part of an investigation into money laundering and securities fraud against Adani.”
Hindenburg Research further wrote, “According to newly released Swiss criminal court records reported by Swiss media outlets, prosecutors detailed how an Adani frontman invested in opaque BVI/Mauritius and Bermuda funds that owned almost exclusively Adani stock.” A report from Gotham City has also been shared with this post.
The research firm has also made several serious allegations against the SEBI chairperson in another post. Hindenburg wrote in the post, “New allegations have surfaced that SEBI Chairperson Madhabi Buch’s 99%-owned private consulting entity accepted payments from several listed companies regulated by SEBI during her tenure as a full-time member of SEBI. The companies include: Mahindra & Mahindra, ICICI Bank, Dr. Reddy’s and Pidilite.”
It further reads, “These allegations apply to Buch’s Indian consulting arm, there are no details so far on Buch’s Singapore-based consulting arm. Buch has maintained complete silence on all emerging issues for weeks.”
