Allegations of opaque fund invests in Adani stocks
The Business Guardian|September 01, 2023
In a development Lsent shockwaves that has through financial circles, the Adani Group is once again under scrutiny following fresh allegations of questionable investment practices.
Allegations of opaque fund invests in Adani stocks

The Organised Crime and Corruption Reporting Project (OCCRP), a globally recognized investigative organization funded by notable figures including George Soros and Rockefeller Brothers Fund, has leveled serious allegations against the conglomerate. The report, referred to as "Hindenburg 2.0," claims that hundreds of millions of dollars have been invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds managed by partners associated with the Adani family.

These allegations come on the heels of a previous incident where a US short-seller's report resulted in a massive devaluation of Adani group stocks, wiping away close to $150 billion in value. The earlier report alleged accounting fraud, stock price manipulation, and the misuse of tax havens by the conglomerate led by billionaire Gautam Adani. The group had vehemently denied these allegations.

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