Adani-Hindenburg Update – Swiss Investigation Reveals Over $310 Million in Assets Frozen Linked to Adani
Swiss authorities have frozen over $310 million in funds from various Swiss bank accounts as part of an investigation into money laundering and securities forgery involving Adani, which began as early as 2021. Prosecutors revealed that an Adani associate invested in opaque funds from the British Virgin Islands, Mauritius, and Bermuda, which primarily held Adani stocks, according to newly released records from the Swiss criminal court reported by Swiss media.
Reply by Adani Group
We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration by any authority. Furthermore, even in the alleged order, the Swiss court has neither mentioned our group companies nor have we received any requests for clarification or information from any such authority or regulatory body. We reiterate that our overseas holding structure is transparent, fully disclosed, and compliant with all relevant laws: Adani Group
In a post on X on Thursday, the US short-seller Hindenburg disclosed that a long-running investigation, which began as early as 2021, has illuminated questionable financial practices involving opaque offshore entities associated with the Indian conglomerate Adani. Swiss media reports indicate that the Geneva Public Prosecutor’s Office was already probing alleged misconduct by Adani prior to the activist investors from Hindenburg Research making their first claims.
https://topnewssurf.com/bajaj-housing-finance-ipo-gmp/
The investigation has led to over $310 million, allegedly belonging to a frontman for billionaire Gautam Adani, being frozen across six Swiss banks. Following the case’s revelation in the press, the Office of the Attorney General of Switzerland (OAG) has assumed responsibility for the ongoing investigation, according to Gotham City’s report.
Sources – In a post on X by Hindenburg Research.
