Another bomb was dropped by an American research firm on Gautam Adani and Adani Group. This proves that Gautam Adani is not being let off the hook by Hindenburg so easily. For this time the disclosure made by the American company is related to the Swiss bank. 310 million dollars from the Swiss bank as part of the Adani Group money laundering and fraud investigation.
Another bomb was dropped by an American research firm on Gautam Adani and Adani Group. This proves that Gautam Adani is not being let off the hook by Hindenburg so easily. Hindenburg posted on social media that Swiss authorities have frozen more than $310 million deposited in several Swiss bank accounts belonging to the Adani Group as part of an investigation into money laundering and fraud.
A recent Hindenburg report said the Swiss bank has withheld over $310 million (Rs 2,600 crore) as part of an investigation into money laundering and fraud by the Adani Group. American short seller Hindenburg Research has once again targeted the Adani Group. Swiss authorities have frozen more than $310 million deposited in six Swiss bank accounts by the Adani Group as part of an investigation into allegations of money laundering and fraud activities.
As early as 2021, as part of the money laundering and securities forgery investigation against Adani, it was revealed that the Swiss authorities had frozen these funds in multiple Swiss bank accounts.
The Adani Group, however, issued a statement that it was not involved in any Swiss court proceedings. Also no account related to our company has been impounded. Our foreign holding structure is fully transparent and compliant with the law. This is an attempt to damage our reputation and market value. Hindenburg published a 106 – pages report on Adani and Adani group on Jan 24, 2023 previous year. This group published a report past year.
What is special is that this investigation has been going on for almost 3 years. This latest case involving Adani Group is very serious. A concern for the Adani Group. Investors now have their eyes on Adani Group shares as the group looks to approach retail investors to raise funds. Adani Group shares are likely to decline on Friday.
US-based Hindenburg Research has made new allegations against the Adani Group. The company posted on its social media account that the information provided by the American short seller was based on Swiss criminal court records. According to the government agency, its investigation is ongoing since the year 2021. The probe has shed light on financial transactions related to offshore entities belonging to the Adani Group.
The Adani Group has been the subject of much discussion in Swiss media reports. Citing media reports, American short-seller Hindenburg said prosecutors had provided information on how an Adani subsidiary (frontman) invested in controversial funds in the British Virgin Islands, Mauritius and Bermuda. The funds are invested in Adani shares. All this information was obtained from Swiss criminal court records.
Hindenburg Again the controversy arose:
No one thought the war between Adani and Hindenburg was over. A new report raises the curtain on this battle. Sebi chairperson Madhavi Puri Buch has accused her husband Dhaval Buch of investing in offshore funds linked to the Adani group in a category of charges against the Adani group since last year.
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