<
https://www.couriermail.com.au/business/markets/brazen-fraud-adani-shares-plummet-as-company-accused-of-major-con/news-story/7b762c81e525e85f556783408d0199a2>
"Adani – the company behind Australia’s most controversial mine – is facing a
stock market bloodbath after it was accused of pulling off “the largest con in
corporate history”.
The firm run by billionaire Gautam Adani – the founder and chairman of India’s
$US218 billion Adani Group, and previously the third-richest man on the planet
– has been slammed by US activist investment group Hindenburg Research, for
purportedly carrying out fraud for years on end.
“We have uncovered evidence of brazen accounting fraud, stock manipulation and
money laundering at Adani, taking place over the course of decades,” Hindenburg
said in a note released on Wednesday Australian time.
Hindenburg also revealed it had taken a short position in Adani Group — meaning
it is betting that the company’s stock price will plunge.
“The Adani Group has previously been the focus of four major government fraud
investigations which have alleged money laundering, theft of taxpayer funds and
corruption, totalling an estimated $US17 billion,” Hindenburg stated."
Via Clarice Boomshakala Bouvier, who wrote "WOT?! Billionaire’s company engages
in a con? Tell me it isnt so!"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
