05-02-2023, 11:35 AM
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.
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.