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Financial Times — Business — Corporate Fraud — Accounting Fraud — Money Laundering — Corporate Governance

Hindenburg vs Adani: claim and counterclaim

Short seller Hindenburg Research has accused Adani Group of stock price manipulation, accounting fraud and money laundering, alleging the conglomerate uses offshore entities to conceal family ownership and skirt insider trading rules.

1 min read
  • Short seller Hindenburg Research accuses Adani Group of stock price manipulation, accounting fraud and money laundering.
  • Hindenburg alleges Adani Group uses offshore entities in Mauritius to conceal family ownership and skirt insider trading rules.
  • Hindenburg claims up to 47% of yearly delivery volume in multiple Adani companies shares is accounted for by offshore suspected stock parking entities.
  • Hindenburg alleges Adani Group used offshore entities to bolster the balance sheets of its listed companies.
  • Hindenburg also claims Adani Group has lax financial controls and employs auditors who are inexperienced.
Hindenburg vs Adani: claim and counterclaim
US short seller’s allegations have rocked Gautam Adani’s business empire and prompted a rebuttal
Financial TimesHudson Lockett

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