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(31-01-2023, 05:34 PM)Manthink Wrote: Now Adani says wanna conduct its own audit. Own self checks own self ?
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
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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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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(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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(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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(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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(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..........
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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.
https://edition.cnn.com/2023/02/01/busin...index.html
(This post was last modified: 02-02-2023, 12:18 AM by
Manthink.)
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I'm only interested in how much TH lost this time.
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(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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(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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(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
(This post was last modified: 03-02-2023, 10:45 AM by
Manthink.)