{"id":1836577,"date":"2023-02-06T10:06:04","date_gmt":"2023-02-06T15:06:04","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1836577"},"modified":"2023-02-06T10:07:38","modified_gmt":"2023-02-06T15:07:38","slug":"many-of-wall-streets-biggest-names-have-exposure-to-adani-enterprises-stock-blowup-following-fraud-allegations","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/many-of-wall-streets-biggest-names-have-exposure-to-adani-enterprises-stock-blowup-following-fraud-allegations\/","title":{"rendered":"Many of Wall Street\u2019s Biggest Names Have Exposure to Adani Enterprises Stock Blowup Following Fraud Allegations"},"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\">32<\/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%2Fmany-of-wall-streets-biggest-names-have-exposure-to-adani-enterprises-stock-blowup-following-fraud-allegations%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=1836577&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<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<div class=\"TopBanner-container\" data-top-banner-placeholder=\"true\"><\/div>\n<\/div>\n<div class=\"PageBuilder-col-full PageBuilder-col PageBuilder-article\">\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\">\n<div class=\"RenderKeyPoints-keyPoints\" id=\"RegularArticle-KeyPoints-4\" data-test=\"keyPoints-1\" data-analytics=\"RegularArticle-keyPoints-4-1\">\n<div class=\"RenderKeyPoints-wrapper\">\n<div class=\"RenderKeyPoints-list\">\n<div>\n<div class=\"group\">\n<ul>\n<li>Adani Enterprises suffered a loss of more than 60%, or $30 billion, in its market cap between January 24th and Thursday trade.<\/li>\n<li>Two of Wall Street&#8217;s most prominent names are among the top 20 Adani Enterprises shareholders.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"ArticleBody-articleBody\" id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\">\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107187467\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Gautam Adani (chairperson of Indian conglomerate Adani Group) speaks at the World Congress of Accountants Mumbai on November 19, 2022.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\"> AFP | AFP | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>India&#8217;s Shares <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/ADANIENT-IN\/\">Adani Enterprises<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\"><\/span><\/button><\/span><\/span><\/span> The stock market has plunged in the last week following the publication\u00a0<a href=\"https:\/\/hindenburgresearch.com\/adani\/\" target=\"_blank\" rel=\"noopener\">A comprehensive critical report<\/a>\u00a0Hindenburg Research, a U.S. short-seller. Exposure is available to some major international players.<\/p>\n<p>The Adani Group of companies has seen a major sell-off, pushing the group&#8217;s losses over $110 billion on Friday close. This was after the Hindenburg Report accused the conglomerate. &#8220;brazen stock manipulation and accounting fraud scheme over the course of decades.&#8221;<\/p>\n<p>Gautam Adani is the head of the ports-to-energy conglomerate. He has repeatedly denied any wrongdoing.<\/p>\n<p>Adani Enterprises has suffered the biggest loss among the wider group&#8217;s many listed companies, shedding more than 60% of its market cap \u2014 or more than $30 billion \u2014 between the report&#8217;s publication on Jan. 24 and the close of Thursday trade.<\/p>\n<p>The Adani Group strongly denies these accusations and calls them &#8220;false&#8221; &#8220;nothing but a lie&#8221; From the &#8220;Madoffs of Manhattan&#8221; In\u00a0<a href=\"https:\/\/www.adani.com\/-\/media\/Project\/Adani\/Invetsors\/Adani-Response-to-Hindenburg-January-29-2023.pdf\" target=\"_blank\" rel=\"noopener\">a 413-page riposte<\/a>\u00a0It failed to soothe investor fears and rein in a swift sell-off.<\/p>\n<p>Adani owns 64% of Adani Enterprises \u2014 the Adani SB Family holds 55.27%, while 8.73% is with Adani Tradeline Pvt Ltd, where Gautam and brother Rajesh Adani are controlling directors.<\/p>\n<\/div>\n<div data-test=\"ArticleTable\">\n<section class=\"TableHeader-container\" data-test=\"TableHeader\">\n<h3 class=\"TableHeader-themeTitle TableHeader-title\">Top 20 Adani Enterprises Shareholders<\/h3>\n<\/section>\n<div>\n<div class=\"BasicTable-basicTable\" data-test=\"BasicTable\">\n<div class=\"BasicTable-tableWrapper\">\n<div class=\"BasicTable-articleContainer\">\n<table class=\"BasicTable-table\">\n<thead class=\"BasicTable-tableHeading BasicTable-tableHeadingSortable\">\n<tr>\n<th class=\"BasicTable-textData\"><span>Institutions\/Insiders <\/span><\/th>\n<th class=\"BasicTable-numData\"><span>Ownership (%) <\/span><\/th>\n<th class=\"BasicTable-textData\"><span>Shares (thousands of dollars) <\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"BasicTable-tableBody\">\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">ADANI SB FAMILY<\/td>\n<td class=\"BasicTable-numData\">55.3<\/td>\n<td class=\"BasicTable-textData\">630,034.7<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Adani Tradeline Pvt Ltd<\/td>\n<td class=\"BasicTable-numData\">8.7<\/td>\n<td class=\"BasicTable-textData\">99,491.7<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Life Insurance Corporation of India<\/td>\n<td class=\"BasicTable-numData\">4.0<\/td>\n<td class=\"BasicTable-textData\">45,815.0<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Green Enterprises Investment Hldg<\/td>\n<td class=\"BasicTable-numData\">3.5<\/td>\n<td class=\"BasicTable-textData\">40,191.0<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Flourishing Trade &#038; Investment<\/td>\n<td class=\"BasicTable-numData\">3.0<\/td>\n<td class=\"BasicTable-textData\">33,937.7<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Afro Asia Trade &#038; Investments<\/td>\n<td class=\"BasicTable-numData\">2.7<\/td>\n<td class=\"BasicTable-textData\">30,249.7<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Worldwide Emerging Market Hldg<\/td>\n<td class=\"BasicTable-numData\">2.7<\/td>\n<td class=\"BasicTable-textData\">30,249.7<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">HSZ (Hong Kong).<\/td>\n<td class=\"BasicTable-numData\">1.7<\/td>\n<td class=\"BasicTable-textData\">19,295.4<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Elara Capital Plc<\/td>\n<td class=\"BasicTable-numData\">1.7<\/td>\n<td class=\"BasicTable-textData\">19,190.1<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">M.M. Warburg Bank (Schweiz)<\/td>\n<td class=\"BasicTable-numData\">1.3<\/td>\n<td class=\"BasicTable-textData\">14,290.9<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">The Vanguard Group, Inc.<\/td>\n<td class=\"BasicTable-numData\">0.7<\/td>\n<td class=\"BasicTable-textData\">8,497.0<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">SBI Funds Management Pvt<\/td>\n<td class=\"BasicTable-numData\">0.6<\/td>\n<td class=\"BasicTable-textData\">7,195.0<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">BlackRock Fund Advisors<\/td>\n<td class=\"BasicTable-numData\">0.6<\/td>\n<td class=\"BasicTable-textData\">6,454.2<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Spitze Trade &#038; Investment<\/td>\n<td class=\"BasicTable-numData\">0.3<\/td>\n<td class=\"BasicTable-textData\">3,986.0<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">UTI Asset Management<\/td>\n<td class=\"BasicTable-numData\">0.2<\/td>\n<td class=\"BasicTable-textData\">2,237.5<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">BlackRock Advisors (UK).<\/td>\n<td class=\"BasicTable-numData\">0.2<\/td>\n<td class=\"BasicTable-textData\">1,901.3<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Kotak Mahindra AM<\/td>\n<td class=\"BasicTable-numData\">0.1<\/td>\n<td class=\"BasicTable-textData\">1,281.8<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Geode Capital Management<\/td>\n<td class=\"BasicTable-numData\">0.1<\/td>\n<td class=\"BasicTable-textData\">1,114.0<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Dimensional Fund Advisors<\/td>\n<td class=\"BasicTable-numData\">0.1<\/td>\n<td class=\"BasicTable-numData\">831.1<\/td>\n<\/tr>\n<tr valign=\"middle\">\n<td class=\"BasicTable-textData\">Nippon Life India AM<\/td>\n<td class=\"BasicTable-numData\">0.1<\/td>\n<td class=\"BasicTable-numData\">737.3<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n<div><em>Source: FactSet, as at 1030 UTC on February 3, 2003<\/em><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>India&#8217;s state-owned Life Insurance Corporation of India is the third largest shareholder with 4.02%. The morning sessions of both India&#8217;s parliament houses were canceled on Friday as opposition leaders demanded an investigation into allegations against Adani who is close to Prime Minister Narendra Modi.<\/p>\n<p>Pralhad Joshi, Indian Minister of Parliamentary Affairs, reportedly told journalists that Friday&#8217;s meeting was a &#8220;recording.&#8221; <a href=\"https:\/\/www.reuters.com\/world\/india\/indias-government-has-nothing-do-with-adani-issue-minister-2023-02-03\/\" target=\"_blank\" rel=\"noopener\">Government &#8220;has nothing to do with Adani matters.&#8221;<\/a><\/p>\n<\/div>\n<div role=\"region\" aria-labelledby=\"Placeholder-ArticleBody-Video-107187892\">\n<div role=\"button\" tabindex=\"0\" id=\"Placeholder-ArticleBody-Video-107187892\" class=\"PlaceHolder-wrapper\" data-vilynx-id=\"7000283877\" data-test=\"VideoPlaceHolder\">\n<div class=\"InlineVideo-videoEmbed\" id=\"InlineVideo-0\" data-test=\"InlineVideo\">\n<div class=\"InlineVideo-wrapper\">\n<div class=\"InlineVideo-inlineThumbnailContainer\"><img decoding=\"async\" class=\"InlineVideo-videoThumbnail\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107187921-5ED2-REQ-020223-WEX-Soon.jpg?v=1675340182&#038;w=750&#038;h=422&#038;vtcrop=y\" alt=\"Adani&#039;s market losses have now topped $100 billion in the week since being targeted by a short seller\"   style=\"display:none\"><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>The top 20 shareholders of Adani Enterprises include two of Wall Street&#8217;s biggest names: Vanguard has 0.75% and BlackRock Fund Advisors has 0.57%. BlackRock Advisors Ltd, U.K., holds 0.17%.<\/p>\n<p>CNBC did not receive a response from BlackRock and Vanguard spokespersons.<\/p>\n<p>Elara Capital currently holds 1.7% of Adani Enterprises. This is according to ownership data.<\/p>\n<p>Hindenburg has charged Elara&#8217;s Mauritius-based fund funds with being part of a scheme to manipulate the share price of Adani Group companies and conceal the family&#8217;s ownership. According to FactSet data, Elara has since sold 72% of its shares in the company.<\/p>\n<p>Companies House reports that Jo Johnson, brother to former British Prime Minister Boris Johnson has resigned as Elara director.<\/p>\n<p>Johnson and Elara Capital did not respond immediately to CNBC&#8217;s requests for comment.<\/p>\n<\/div>\n<\/div>\n<div class=\"WatchLiveRightRail-inline WatchLiveRightRail-container\" id=\"RegularArticle-WatchLiveRightRail-7\" data-test=\"watchLiveRightRail-4\" data-analytics=\"RegularArticle-watchLiveRightRail-7-4\">\n<div class=\"WatchLiveRightRail-contents\"><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButton\">WATCH LIVE<img decoding=\"async\" src=\"https:\/\/static-redesign.cnbcfm.com\/dist\/4db8932b7ac3e84e3f64.svg\" class=\"WatchLiveRightRail-logo\" alt=\"logo\" \/><\/a><a href=\"https:\/\/www.cnbc.com\/live-tv\/\" class=\"WatchLiveRightRail-wlButtonMobile\">WATCH THE APP<\/a><\/div>\n<\/div>\n<\/div>\n<div class=\"PageBuilder-col-9 PageBuilder-col PageBuilder-article\"><\/div>\n<div class=\"PageBuilder-col-12 PageBuilder-col PageBuilder-article\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Adani Enterprises suffered a loss of more than 60%, or $30 billion, in its market cap between January 24th and Thursday trade. Two of Wall Street&#8217;s most prominent names are among the top 20 Adani Enterprises shareholders. Gautam Adani (chairperson of Indian conglomerate Adani Group) speaks at the World Congress of Accountants Mumbai on November &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1836580,"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":[547],"tags":[8710,17781,5609,17780,17779,15641,6909,6574,4359,10293,4354],"class_list":["post-1836577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-biggest","tag-adani","tag-allegations","tag-blowup","tag-enterprises","tag-exposure","tag-fraud","tag-names","tag-stock","tag-streets","tag-wall"],"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\/1836577","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1836577"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1836577\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1836580"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1836577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1836577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1836577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}