Hindenburg Research: Big allegation of Hindenburg Research, Swiss authorities freeze $310 million of Adani Group
Hindenburg Research: Hindenburg Research has made a brand new disclosure concerning the Adani Group, claiming that Swiss authorities have frozen an quantity of greater than $310 million. This step has been taken as a part of the cash laundering investigation in opposition to entities allegedly linked to the Adani Group. Hindenburg has given this info quoting Swiss media web site 'Gotham Metropolis'.
Sharing the knowledge on social media, Hindenburg stated that Swiss authorities have taken this motion as a part of the investigation of cash laundering and securities fraud in opposition to the Adani Group. The investigation started in 2021, and in keeping with Swiss courtroom data, an Adani frontman invested in opaque Mauritius, Bermuda and BVI funds, which primarily owned Adani shares.
Swiss authorities froze greater than $310 million in a number of Swiss financial institution accounts in early 2021 as a part of a cash laundering and securities fraud investigation in opposition to Adani.
Prosecutors element how a key Adani man invested in opaque firms…
— Hindenburg Research (@HindenburgRes) September 12, 2024
In response to Swiss media stories, the Geneva public prosecutor's workplace was investigating alleged irregularities by the Adani Group, which started earlier than Hindenburg's allegations. In response to Gotham Metropolis, greater than $310 million belonging to billionaire Gautam Adani's alleged frontman has been seized in Swiss banks.
Nevertheless, the Adani Group has known as these allegations baseless. The group stated in its assertion that it has no reference to any Swiss courtroom proceedings, nor have its accounts been seized. It additionally stated that its holding construction is clear and follows all authorized guidelines. The group has known as these allegations baseless and one other try to break its status.
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