{"id":1833205,"date":"2023-02-02T16:50:10","date_gmt":"2023-02-02T21:50:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1833205"},"modified":"2023-02-02T16:54:34","modified_gmt":"2023-02-02T21:54:34","slug":"indian-company-loses-100-billion-after-american-researchers-say-they-run-the-largest-con-in-corporate-history","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/indian-company-loses-100-billion-after-american-researchers-say-they-run-the-largest-con-in-corporate-history\/","title":{"rendered":"Indian Company Loses $100 Billion After American Researchers Say They Run \u2018The Largest Con In Corporate History\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">34<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Findian-company-loses-100-billion-after-american-researchers-say-they-run-the-largest-con-in-corporate-history%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1833205&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<p><a href=\"http:\/\/dailywire.com\/topic\/india\" target=\"_blank\" rel=\"noopener\">Indian<\/a> Adani Group, a multinational conglomerate, lost over $100 billion in <a href=\"http:\/\/dailywire.com\/topic\/stock-market\" target=\"_blank\" rel=\"noopener\">stock market<\/a> Value after a team os researchers claimed that the company pulled \u201cthe largest con in corporate history.\u201d<\/p>\n<p>Gautam Adani is the current owner of the firm. <a href=\"https:\/\/www.forbes.com\/real-time-billionaires\/#279614163d78\" target=\"_blank\" rel=\"noopener\">richest<\/a> Artificially inflating men around the world. \u201ca brazen stock manipulation and accounting fraud scheme over the course of decades,\u201d According to a 2-year study <a href=\"https:\/\/hindenburgresearch.com\/adani-response\/\" target=\"_blank\" rel=\"noopener\">investigation<\/a> Hindenburg Research is an American financial forensic company. An analysis team visited several countries to speak with former executives. They concluded that Adani Group companies had pledged shares of their stock in return for loans and assumed large amounts of debt. Additionally, they had benefited from the establishment of shell companies by family members.<\/p>\n<p>Vinod Adani (the elder brother of Gautam) is alleged to control 38 shell companies in Mauritius. These include those located in Cyprus, Singapore and the United Arab Emirates. Many of these companies appear to employ zero workers and have no online presence. Researchers discovered that this was a deliberate attempt to hide the true nature the companies. \u201crudimentary,\u201d citing the fact that 13 of the companies\u2019 websites were created on the same day and contain little more than stock photos.<\/p>\n<p>Adani Group has interests in a variety of sectors, including port management, electric power and mining, oil and natural gas, and food processing. After the publication of the report last Wednesday, Gautam Adani fell from being the third-richest person on the planet down to the seventeenth.<\/p>\n<p>The shell companies exist for stock parking, stock manipulation, and laundering money through Adani\u2019s private companies \u201conto the listed companies\u2019 balance sheets in order to maintain the appearance of financial health and solvency,\u201d Hindenburg Research reported that offshore companies make up a large portion of the largest public holders Adani Group stock. According to the report, Rajesh Adani (the younger brother and sister-in-law) and Samir Vora (the brother and sister-in-law of Gautam Adani), were promoted to top executive positions within the empire despite their involvement with alleged offshore diamond trading frauds. Indian authorities launched several investigations into the family in the last two decades.<\/p>\n<p>Adani Enterprises, Adani Group\u2019s flagship publicly traded business, has seen shares drop by more than 52% in five days. Hindenburg Research stated that they have taken a short position through American-traded bonds as well as various derivatives.<\/p>\n<p>Adani Group published &#8220;Adani Group&#8221; <a href=\"https:\/\/assets.bwbx.io\/documents\/users\/iqjWHBFdfxIU\/rPxvSL..aP0g\/v0\" target=\"_blank\" rel=\"noopener\">document<\/a> Hiring Hindenburg Research executives \u201cMadoffs of Manhattan\u201d They stated that they were conducting an investigation. \u201ca malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive.\u201d Hindenburg Research was also accused by the company of launching an advertisement \u201cattack on India, the independence, integrity and quality of Indian institutions, and the growth story and ambition of India,\u201d Leading the investors to <a href=\"https:\/\/hindenburgresearch.com\/adani-response\/\" target=\"_blank\" rel=\"noopener\">Rebut<\/a> This document \u201clargely confirmed our findings and ignored our key questions.\u201d<\/p>\n<p>India&#8217;s economy is thriving <a href=\"https:\/\/www.dailywire.com\/news\/india-will-surpass-japan-and-germany-as-the-worlds-third-largest-economy\" target=\"_blank\" rel=\"noopener\">Grown<\/a> The country has grown significantly over the past decades, despite corruption and lack of sound institutions. The nation is scheduled to become the world\u2019s third-largest economy in the next decade and most populated nation this year, surpassing longtime geopolitical rival China for the latter distinction.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian multinational conglomerate Adani Group lost some $100 billion in stock market value after a team of researchers claimed that the firm pulled \u201cthe largest con in corporate history.\u201d The valuation of the firm run by Gautam Adani, who is currently one of the richest men in the world, was artificially inflated by \u201ca brazen &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1833208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[6962,5696,4123,5425,6079,4919,13989,4818,4318,8684],"class_list":["post-1833205","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-the","tag-5696","tag-american","tag-company","tag-corporate","tag-history","tag-indian","tag-largest","tag-loses","tag-researchers"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1833205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1833205"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1833205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1833208"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1833205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1833205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1833205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}