According to the Swiss media outlet Gotham City, the Swiss authorities have currently requested and or frozen $310 million in Swiss bank accounts being investigated for money laundering linked to entities thought to be associated with the Adani group. , it has been ongoing since 2021 and targets the offshore investment structures in tax hav ers such as British Virgin Islands, Mauritius, Bermuda among others.
Swiss authorities have frozen more than $310 million in funds across multiple Swiss bank accounts as part of a money laundering and securities forgery investigation into Adani, dating back as early as 2021.
— Hindenburg Research (@HindenburgRes) September 12, 2024
Prosecutors detailed how an Adani frontman invested in opaque…
This, however, came after US based short seller Hindenburg Research posted a detailed report on X that add more fuel to the fire. The Adani Group has dismissed the allegations with the vehement saying that they are unfounded, and the group operates in full accord with the relevant laws and regulations. Adani again underscored the company’s transparency and rejected the claims as a plot to defame the group making it out to be a villain. In January 2023, Hindenburg had alleged that the Adani Group engaged in stock manipulation; the group also denied the same.
