Adani-Hindenburg saga continues: Six Swiss bank accounts relating to Gautam Adani were frozen, reveals Federal Criminal Court
Swiss bank accounts as part of an investigation into allegations of money laundering and securities forgery linked to the Adani Group, alleged Hindenburg Group citing newly released Swiss criminal court records.
In a post on X on Thursday, the US short-seller said that the probe, which dates back to 2021, has shed light on financial practices involving opaque offshore entities tied to the Indian conglomerate.
As per a report by Swiss media, Geneva Public Prosecutor's Office was investigating alleged wrongdoing by the Indian conglomerate Adani well before activist investors from Hindenburg Research made the first accusations.
«More than $310 million belonging to an alleged front man for billionaire Gautam Adani is sequestered in six Swiss banks. The Office of the Attorney General of Switzerland (OAG) took over the investigation after the case was revealed in the press,» said Gotham City in its report.
Just as the Adani-Hindenburg saga was nearing its end, new allegations in August revived the episode. In early 2023, the short-seller accused the Adani Group of skirting market regulations via tax havens.
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