Allegedly Fraudulent Indian Company That Lost $100 Billion Was Heavily Involved In ESG Movement

Adani Enterprises is the flagship publicly traded company of Adani Group. It is also one of the largest Indian companies. money laundering.

Gautam Adani is the valuation agent for the firm. richest Artificially inflating men around the world. “a brazen stock manipulation and accounting fraud scheme over the course of decades,” A two-year analysis of the market. investigation Hindenburg Research, an American forensic financial firm, released this week. Analysts discovered shell companies and diamond trading frauds that were used by family members to boost the stock price.

Adani Enterprises, which lost more than $100 Billion on the stock exchange, will be restructured. Removed The Dow Jones Sustainability Indices have been consulted over the “allegations of stock manipulation and accounting fraud.” The company is Listened The Sustainability Emerging Markets index also includes companies from China and other developing countries.

The following investment products are available Advertisement As “best-in-class benchmarks for investors who have recognized that sustainable business practices are critical to generating long-term shareholder value and who wish to reflect their sustainability convictions in their investment portfolios.” Adani Enterprises likewise Submitted The company has indicated to the United Nations that it supports the Global Compact. This voluntary agreement is not binding Initiative Based on commitments to implement “universal sustainability principles” Such as labor rights, human rights, the environment, and anticorruption measures. The company published a long sustainability report. Report Reflects adherence to the Environmental, Social, and Corporate Governance Movement, also known as ESG.

Adani Group has interests in various sectors including port management and electric power. Adani Enterprises shares have fallen from 3,442 rupees (40.58) the day Hindenburg Research published its investigation results to 1,531 rupees (18.59) Friday. Hindenburg Research stated that they had taken a short position through American-traded bonds, and other derivatives. Following the release of the report last Thursday, Adani fell from the third to the 17th richest person on Earth.

Adani Group published “Adani Group” Document Call Hindenburg Research executives “Madoffs of Manhattan” And they stated that the investigation was based upon. “selective misinformation and concealed facts.” Hindenburg Research was also accused by the company of launching an advertisement “attack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India,” Investors will be led to You can rebut This document “largely confirmed our findings and ignored our key questions.”

Adani Group follows other fraudulent companies that have taken advantage of investors’ appetites for socially conscious companies.

Elizabeth Holmes, founder of Theranos’s defunct healthcare venture, has been widely recognized as one of Silicon Valley’s most successful female entrepreneurs before she was Sentenced To federal prison for fraud charges. Sam Bankman-Fried was the founder of the bankrupt cryptocurrency exchange FTX. He lost billions of customer assets by commingling funds with his trading company. “perverted beyond recognition” And He created trust among them “woke westerners” By emphasizing his self-professedness “effective altruism.”

Pfizer was Nominated One of the “most sustainable companies” The world saw footage of Project Veritas’ official admitting that they were considering the mutation of coronaviruses. This was days before Project Veritas made the video public. Recently, Elon Musk You can find out more about social media “the S in ESG stands for Satanic” It was formerly known as the investment philosophy. “scam” This is what it was. “weaponized by phony social justice warriors.”