Free Republic

The world's third-richest man has been accused of pulling of the 'largest con in corporate history' through the Indian-based Adani Group corporation. US investor Hindenburg Research, which has begun short selling the conglomerate through bonds, conducted a two-year probe into head Gautam Adani, who is worth $125billion. The firm alleges that Adani and his family controlled a web of offshore shell accounts that it used to carry out corruption, money laundering and taxpayer theft, all while siphoning money from the companies they owned. Adani has pulled off this gargantuan feat with the help of enablers in government and a cottage...

The Indian billionaire briefly surpassed Amazon founder Jeff Bezos to become the second-richest person in the world in September, according to Bloomberg. He’s now ranked as the world’s fourth wealthiest person. Outside Southeast Asia, Adani is hardly a household name. That might be changing now that he’s richer than Microsoft founder Bill Gates and iconic investor Warren Buffett. “The kind of rise that you have seen is truly phenomenal and probably unprecedented in the world that in such a short time a single individual has been able to acquire assets across industrial sectors and has emerged as one of the...

Indian billionaire Gautam Adani says that China “will feel increasingly isolated” and the “foremost champion of globalization” would find it hard to bounce back from a period of economic weakness. Speaking at a conference in Singapore on Tuesday, Adani said “increasing nationalism, supply chain risk mitigation, and technology restrictions,” as well as resistance to Beijing’s huge Belt and Road initiative, would impact China’s global role. Asia’s richest man said that “housing and credit risks” in the world’s second largest economy were also “drawing comparisons with what happened to the Japanese economy during the ‘lost decade’ of the 1990s.” Adani also...