Wow! ST says India's ADANI is the "largest con in corporate history”. "
#1
Cool 

...Hindenburg’s modus operandi is simple. Mr Anderson and his team dig into companies and look for malfeasance.

One high-profile example: electric-vehicle maker Nikola, which Hindenburg called an “ocean of lies”. Last October, Nikola founder Trevor Milton was convicted of defrauding investors. Early on, he looked into potential Ponzi schemes and occasionally teamed up with forensic accountant Harry Markopolos, who famously tried to warn the US federal authorities about Bernard Madoff. Mr Anderson has called Mr Markopolos a role model.

https://www.straitstimes.com/business/la...ing-empire
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#2

Harry M. Markopolos is an American former securities industry executive and a forensic accounting and financial fraud investigator who warned US FCC about Bernard Madoff  (world largest) Ponzi scheme for many years..

His warnings were constantly ignore by US Gov because he was a "nobody" and Madoff is was a "Somebody"...until the Wall St crash in 2008

[Image: images?q=tbn:ANd9GcQV6avxrUA9O9pujhYDhwh...g&usqp=CAU]

https://www.ekathimerini.com/economy/115...f-s-fraud/
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#3

if true worst then ENRON n WORLD COM
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#4

For those who are too lazy to understand how dangerous White-collar crimes are...watch this...

https://youtu.be/3wUJesUik5A
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#5

(30-01-2023, 09:31 AM)talky Wrote:  if true worst then ENRON n WORLD COM

I am afraid so when a giant cooperation has the backing of a gov...Adani replied with a 413-page rebuttal...calling Hindenburg report an "attack on India"... Rolleyes

https://www.bloomberg.com/news/articles/...ties-fraud
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#6

Everyone remember the Three Brothers

Blumont, LionGold, Asiasons ?????

About same story to jack up the prices to get fundings from banks as collateral for their other acquisitions.


Smile
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#7

(30-01-2023, 10:39 AM)Niubee Wrote:  Everyone remember the Three Brothers

Blumont, LionGold, Asiasons ?????

About same story to jack up the prices to get fundings from banks as collateral for their other acquisitions.

Actually... This has been the way the rich operated all the while. Just that these con artists did it in a much much larger scale that the existing rich frowns upon and the rest is history...

Look at Dr M and Najib as a classic example.
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#8

Ish always true...:

[Image: GuCNVAl.gif]
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#9

snake is liddat wan, 没有办法

[Image: 1713015125snake-scales-animation-gif-3.gif]
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#10

https://www.theguardian.com/business/202...k-on-india

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#11

(30-01-2023, 03:46 PM)cityhantam Wrote:  https://www.theguardian.com/business/202...k-on-india


Farker Adani trying to stirr their con case into political issue like a snake by bringing their whole country in.
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#12

(30-01-2023, 09:31 AM)talky Wrote:  if true worst then ENRON n WORLD COM

OMG!

Super memories  Clapping
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#13

https://www.theguardian.com/business/202...oup-to-sue

Hindenburg is obviously baiting Adani to sue them to sexpose themselves further.
There is no way for Adani to run now. If don't sue, share price continue to plunge. If sue, jitao risk plunging further to bankruptcy. Adani tio checkmate gao gao.
Basically, evil snakey conglomerates like Adani deserve the karma they are getting.

[Image: popcorn-eating-popcorn.gif]
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#14

Adani value continue to lao-sai the start of this week....

BILLIONAIRE Gautam Adani’s 413-page attempt to restore confidence in his business empire is falling flat with investors, as stock-market losses deepen and key US dollar bonds fall to fresh lows. Shares of most Adani Group firms slumped on Monday (Jan 30) despite the Indian conglomerate’s lengthy weekend rebuttal to allegations of fraud by short seller Hindenburg Research

https://www.businesstimes.com.sg/compani...ntensifies
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#15

(30-01-2023, 06:00 PM)Manthink Wrote:  Adani value continue to lao-sai the start of this week....

BILLIONAIRE Gautam Adani’s 413-page attempt to restore confidence in his business empire is falling flat with investors, as stock-market losses deepen and key US dollar bonds fall to fresh lows. Shares of most Adani Group firms slumped on Monday (Jan 30) despite the Indian conglomerate’s lengthy weekend rebuttal to allegations of fraud by short seller Hindenburg Research

https://www.businesstimes.com.sg/compani...ntensifies

The more the snake explains, the worse it gets.

Hoot Hor Yi Toh!
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#16

Now Adani says wanna conduct its own audit. Own self checks own self ? Big Grin

https://sg.news.yahoo.com/indias-adani-g...40693.html
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#17

(31-01-2023, 05:34 PM)Manthink Wrote:  Now Adani says wanna conduct its own audit. Own self checks own self ? Big Grin

https://sg.news.yahoo.com/indias-adani-g...40693.html

Just like 1MDB, ownself engage auditor, regardless of Big 4 etc. will always pass til the rot is sexposed by an external party who engages a totally independent auditor, LOL.
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#18

(30-01-2023, 11:56 AM)lioncityftw Wrote:  Ish always true...:

[Image: GuCNVAl.gif]



Mr Modi and Mr Ambani, Mr Adani comes from the western state of Gujarat,



https://www.ft.com/content/474706d6-1243...1d4c5d528b


birds with the same feathers flock together
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#19

(31-01-2023, 05:34 PM)Manthink Wrote:  Now Adani says wanna conduct its own audit. Own self checks own self ? Big Grin

https://sg.news.yahoo.com/indias-adani-g...40693.html

Audit is not going to help him.

Actually look at this..Adani stock went up.25 times in 3 years. This is better than Tesla

But all its business are slow growth business how did it do this magic trick


[Image: MsY2xdb.jpg]

This trick consist of few steps

1. Acquire other companies.
2. Inflate the value and revenues and profits of the acquired  company.
3. Use the fake statements to go yo bank and investor's to take more money.
4. Use the money yo make next acquisition....repeat.

Adani is like house of cards so long as bank and investors are fooled to continue to invest money they can keep the ruse going. But once it stops it collapses.

No bank will lend money now once it is exposed.

I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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#20

The Hindenburg report also said that the group was the focus of four major government fraud investigations over allegations of money laundering, theft of taxpayer funds and corruption, totalling an estimated $17 billion. Adani family members also, it said, operate offshore shell entities in tax havens like Mauritius, UAE, and the Caribbean Islands. They have generated fraud import/export documents to “generate fake or illegitimate turnover and to siphon money from the listed companies”.

The Directorate of Revenue Intelligence (DRI) accused Gautam Adani’s younger brother Rajesh Adani of playing a key role in the diamond trading import/export scheme of 2004-05 that used offshore shell entities to generate artificial turnover, the report points out. Rajesh Adani was arrested twice -- in 1999 and 2010 -- over separate allegations of forgery and tax fraud before being promoted as the Managing Director of Adani Group.

Gautam Adani’s brother-in-law Samir Vora was also accused by the DRI of being a ringleader in the same scam and of making false statements to regulators, it further states. He was eventually promoted as Executive Director of the Adani Australia division, the report said.

The Hindenburg report also put its lens on Gautam Adani’s brother, Vinod Adani, often called an ‘elusive figure’. The report stated that Vinod Adani has been “regularly” found at the centre of government investigations. He is alleged to manage a network of offshore entities that are used to facilitate fraud.

The report said that it found Vinod Adani to manage a vast labyrinth of offshore shell entities. They identified 38 Mauritius shell entities controlled by him or close associates. He also controls entities in Cyprus, UAE, Singapore, and several Caribbean Islands. Many of the Vinod Adani-associated entities have no signs of operations, employees, addresses, phone numbers or meaningful online presence.

I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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#21

(31-01-2023, 06:34 PM)sgbuffett Wrote:  The Hindenburg report also said that the group was the focus of four major government fraud investigations over allegations of money laundering, theft of taxpayer funds and corruption, totalling an estimated $17 billion. Adani family members also, it said, operate offshore shell entities in tax havens like Mauritius, UAE, and the Caribbean Islands. They have generated fraud import/export documents to “generate fake or illegitimate turnover and to siphon money from the listed companies”.

The Directorate of Revenue Intelligence (DRI) accused Gautam Adani’s younger brother Rajesh Adani of playing a key role in the diamond trading import/export scheme of 2004-05 that used offshore shell entities to generate artificial turnover, the report points out. Rajesh Adani was arrested twice -- in 1999 and 2010 -- over separate allegations of forgery and tax fraud before being promoted as the Managing Director of Adani Group.

Gautam Adani’s brother-in-law Samir Vora was also accused by the DRI of being a ringleader in the same scam and of making false statements to regulators, it further states. He was eventually promoted as Executive Director of the Adani Australia division, the report said.

The Hindenburg report also put its lens on Gautam Adani’s brother, Vinod Adani, often called an ‘elusive figure’. The report stated that Vinod Adani has been “regularly” found at the centre of government investigations. He is alleged to manage a network of offshore entities that are used to facilitate fraud.

The report said that it found Vinod Adani to manage a vast labyrinth of offshore shell entities. They identified 38 Mauritius shell entities controlled by him or close associates. He also controls entities in Cyprus, UAE, Singapore, and several Caribbean Islands. Many of the Vinod Adani-associated entities have no signs of operations, employees, addresses, phone numbers or meaningful online presence.

If one bothers to through the Hindenburg report ...it is very very thorough. The Adani family members have engaged jn various criminal frauds

I am surprised Temasek invested without doing any background check or due diligence.

I, being poor, have only my dreams; I have spread my dreams under your feet; Tread softly because you tread on my dreams.
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#22

(31-01-2023, 06:24 PM)grotesqueness Wrote:  Mr Modi and Mr Ambani, Mr Adani comes from the western state of Gujarat,



https://www.ft.com/content/474706d6-1243...1d4c5d528b


birds with the same feathers flock together

Should take down all these toxic snakes.
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#23

(30-01-2023, 10:39 AM)Niubee Wrote:  Everyone remember the Three Brothers

Blumont, LionGold, Asiasons ?????

About same story to jack up the prices to get fundings from banks as collateral for their other acquisitions.

Pls la this small Kachang puteh case dont bring up and compare sia suay yr self ok..keke
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#24

(31-01-2023, 07:19 PM)Sharexchange Wrote:  Pls la this small Kachang puteh case dont bring up and compare sia suay yr self ok..keke

Yah, let's concentrate on these big cases.......... Clapping
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#25

This is bad - Adani Group share dropped another 30%...Total  lost US$98b in value within 2 weeks...

This meant Modi's BBF now no longer Asia's richest man.  Sleepy

https://edition.cnn.com/2023/02/01/busin...index.html
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#26

I'm only interested in how much TH lost this time.
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#27

(02-02-2023, 12:25 AM)Blasterlord2 Wrote:  I'm only interested in how much TH lost this time.

Here is a hint....This report was published in Dec'22....just a month before Hindenburg Research's short-sell call on 24 Jan 2023..

Normally, Temasek invests about $1 billion every year in India, but last year the fund saw a lot more of opportunities in the Indian and ended up being more aggressive. Temasek has also been very active in the Indian start-up space.

https://www.5paisa.com/news/temasek-doub...in-5-years
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#28

Who is the shorter?
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#29

(02-02-2023, 12:50 AM)Manthink Wrote:  Here is a hint....This report was published in Dec'22....just a month before Hindenburg Research's short-sell call on 24 Jan 2023..

Normally, Temasek invests about $1 billion every year in India, but last year the fund saw a lot more of opportunities in the Indian and ended up being more aggressive. Temasek has also been very active in the Indian start-up space.

https://www.5paisa.com/news/temasek-doub...in-5-years
That mean TH may also loss double this time....but Sgd quite strong vs MR and RMB.
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#30

(02-02-2023, 05:43 AM)ysh02 Wrote:  That mean TH may also loss double this time....but Sgd quite strong vs MR and RMB.

Last 3 years had been a test for all..not just in health security, but also in economy.

Now with the return to "normalcy"...e.g. China returning from post "zero-COVID" era, we are starting to see who had been blowing balloons and who has the real resiliency
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