Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History

[troubled soul]

Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History​

https://hindenburgresearch.com/adani/

 

[wellington]

Well known, if you look at a lot of Asian's they all do this in the 1%

 

[MiddleEuroAsia]

Well known, if you look at a lot of Asian's they all do this in the 1%

Same with MENA and African countries.

 

[Martin Everson]

Damn what a scandal.

 

[troubled soul]

Look at the valuation of publicly traded company ...their valuation are more than some stupid crypto start up.....Most funny part is all is happening in broad day light....Most share held by Mauritius shell company ....since 2000 their are doing this ...and no body bet eye on them.....

Today It is next to impossible do something as This guy is friend of Most powerful leader in history of Modern India....

 

[JohnnyDoe]

Remember, this is what we are being told by jurnos. Who probably have passed the info to their masters before it went public, so that they could profit from it. Add whose miserable lives are inspired by envy.

 

[Martin Everson]

Adani Group Evaluating Legal Action Against Hindenburg After Listed Shares Take Major Hit​

https://www.msn.com/en-us/money/oth...s-listed-shares-continue-to-slide/ar-AA16KQcE
-----

Just looked at bond market and most of Adani Ports bonds have tanked big time .

 

[troubled soul]

Seems party is just started......Nobody knew the future but fun to see this whole story.....How it will end....

US activist investor who accused Adani of ‘biggest con in corporate history’ dares Indian group to sue
https://www.theguardian.com/busines...rch-dares-adani-group-to-sue?CMP=share_btn_tw

Adani Rout Deepens to $45 Billion, Pressuring Asia’s Richest Man
https://www.bloomberg.com/news/arti...medium=social&utm_campaign=socialflow-organic

 

[TheCryptoAnt]

id like to take a moment to remind you all that Bitcoin and by extent all crypto market are manipulated auctions

 

[MiddleEuroAsia]

I'm sure the next couple of days we will see a documentary or two about this case.
On another note, This could lead to similar results to the whole FTX fiasco. let's wait and see

 

[RealDude]

Adani firms lose $65 billion in value as U.S. short-seller battle escalates​

https://www.reuters.com/world/india...-stocks-plunge-after-short-seller-2023-01-30/

 

[troubled soul]

Credit Suisse’s Private Bank Halts Margin Loans on Adani Bonds
https://www.bloomberg.com/news/arti...rivate-bank-halts-margin-loans-on-adani-bonds

 

[troubled soul]

There’s Evidence That The Adani Group Likely Bought Into Its Own $2.5 Billion Share Sale
https://www.forbes.com/sites/johnhy...ly-bought-into-its-own-25-billion-share-sale/
Adani scraps fully subscribed FPO, says going ahead ‘morally wrong’
https://timesofindia.indiatimes.com...rally-wrong/articleshow/97538003.cms?from=mdr

Too expensive to buy your own shares at ₹3200 when you can buy them from market at ₹2000!

Now, Citigroup Wealth Unit Halts Margin Loans on Adani Securities

 

[Martin Everson]

Now, Citigroup Wealth Unit Halts Margin Loans on Adani Securities

Yes Credit Suisse did same. Imagine the margin calls clients will get who collateralized those bonds.

Credit Suisse Reportedly Assigns Zero Lending Value To Adani Group Bonds Following Hindenburg Allegations​

https://www.msn.com/en-us/money/oth...-following-hindenburg-allegations/ar-AA16ZuaS

 

[troubled soul]

Quite unbelievable....history in making ......Seems his ""Friends"" left him alone

Adani Enterprises to Be Removed From Dow Jones Sustainability Indices

 

[Martin Everson]

Adani Group used tiny 11-employee firm to audit businesses worth $100B​

https://www.msn.com/en-us/money/new...rm-to-audit-businesses-worth-100b/ar-AA172lhR
---- quote start

Adani Group used a tiny auditing firm with just 11 employees — some as young as 23 — to review finances at two key subsidiaries with a combined value of $100 billion, according to bombshell allegations from short-seller Hindenburg Research.

As of Thursday, billionaire Gautam Adani’s business empire has lost a whopping $108 billion in value since Hindenburg accused him on Jan. 24 of overseeing “the largest con in corporate history.” The India-based conglomerate was forced to abandon a planned $2.5 billion share sale this week.

One of the key “red flags” raised by Hindenburg about Adani Group’s alleged subpar governance concerned its use of the firm Shah Dhandharia, which conducted audits for the flagship Adani Enterprises and Adani Total Gas.

Based out of an office in the Indian city of Ahmedabad, the firm used auditing partners who “were as young as 24 and 23 years old” to approve annual audit reports at the two subsidiaries, according to Hindenburg, which obtained and published copies of IDs and government records confirming their ages.

“They were essentially fresh out of school, hardly in a position to scrutinize and hold to account the financials of some of the largest companies in the country, run by one of its most powerful individuals,” Hindenburg said in its report.

---- quote end

 

[RealDude]

India's Adani crisis spills over into street protests as losses top $110 bln​

https://www.reuters.com/world/india...ded-sell-off-credit-warnings-kick-2023-02-06/

 

[troubled soul]

Inside The Offshore Empire Helmed By Gautam Adani’s Older Brother
https://www.forbes.com/sites/johnhy...-brother-emerges-as-family-empires-key-fixer/

 

[troubled soul]

 

[crassus54]

Adani Group: How The World’s 3rd Richest Man Is Pulling The Largest Con In Corporate History​

https://hindenburgresearch.com/adani/

I have huge respect for the man