Adani-Hindenburg saga: US short-seller claims $310 mn frozen funds in Swiss accounts, Adani dismisses 'baseless' allegations
Swiss bank accounts as part of an investigation into allegations of money laundering and securities forgery linked to the Adani Group, dating back as early as 2021, citing newly released Swiss criminal court records. However, the Adani Group has firmly rejected and denied the «baseless allegations» presented in the Hindenburg post.
In their response, the Adani Group reiterated that their overseas holding structure is transparent, fully disclosed, and compliant with all relevant laws. They also clarified that they are not involved in any Swiss court proceedings, emphasizing that neither their group companies were mentioned in any such court documents nor have they received any requests for clarification.
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.
Swiss criminal court records show in detail how an Adani frontman invested in opaque BVI/Mauritius & Bermuda funds that almost exclusively owned Adani stock, the U.S.-based short seller said in a post on X, formerly Twitter, citing a Swiss media outlet.
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