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Gautam Adani, the world’s third-richest man, is “the largest con in corporate history” through his India-based conglomerate Adani Group, according to scathing allegations published this week by influential short seller Hindenburg Research.

Hindenburg — whose previous targets have included electric-truck makers Nikola and Lordstown Motors — revealed in a research note late Tuesday it had taken a short position in Adani Group and alleged that Adani’s rise in wealth was fueled by a variety of illegal misdeeds.

“We have uncovered evidence of brazen accounting fraud, stock manipulation and money laundering at Adani, taking place over the course of decades,” Hindenburg said in the note.

Adani, 60, has amassed an estimated fortune of $125.5 billion while overseeing a sprawling network of companies with holdings across several industries, including control of major ports and airports, energy, real estate and cement.

As of Wednesday, he trailed only French luxury goods magnate Bernard Arnault and Tesla CEO Elon Musk in overall wealth, according to Forbes.

“Adani has pulled off this gargantuan feat with the help of enablers in government and a cottage industry of international companies that facilitate these activities,” the firm added.


Gautam Adani
Gautam Adani is chairman and founder of Adani Group.
AFP via Getty Images

The firm noted that Adani Group has “previously been the focus of 4 major government fraud investigations” alleging money laundering, corruption and theft of taxpayer money.

Hindenburg said it conducted a two-year investigation of the Adani business empire – with research that included dozens of interviews, including some with former company executives, as well as an analysis of internal documents and due diligence visits at company-controlled sites.

The report asserted that Adani, several family members and other company executives oversee a network of offshore shell companies located in tax havens across Mauritius, the United Arab Emirates, and the Caribbean.

Hindenberg alleged that some of the shell companies appeared to be hastily cobbled together, with websites “featuring only stock photos, naming no actual employees and listing the same set of nonsensical services.”


Adani Group
Hindenburg alleged that Adani Group has engaged in a sweeping fraud.
SOPA Images/LightRocket via Gett

Adani Group-affiliated public stocks lost a combined value equivalent to approximately $12 billion on Wednesday following the release of Hindenburg’s note, according to Bloomberg. However, the company affiliated firms have surged in value by more than $50 billion over the last year.

Adani Group CFO Jugeshindar Singh said the company was “shocked” by Hindenburg’s allegations and issued a firm denial.

“The report is a malicious combination of selective misinformation and stale, baseless and discredited allegations that have been tested and rejected by India’s highest courts,” Singh said.

“The timing of the report’s publication clearly betrays a brazen, mala fide intention to undermine the Adani Group’s reputation,” Singh added.


Adani Group
Adani Group has holdings across various industries.
SOPA Images/LightRocket via Gett

Hindenburg alleged that many of the shell companies are reportedly operated by Adani’s older brother, Vinod, or his “close associates.”

“The Vinod-Adani shells seem to serve several functions, including (1) stock parking / stock manipulation (2) and laundering money through Adani’s private companies onto the listed companies’ balance sheets in order to maintain the appearance of financial health and solvency,” Hindenburg said.

Hindenburg included a list of 88 questions about company operations which “we hope the Adani Group will be pleased to answer.”

“Even if you ignore the findings of our investigation and take the financials of Adani Group at face value, its 7 key listed companies have 85% downside purely on a fundamental basis owing to sky-high valuations,” Hindenburg said.


Hindenburg Research
Hindenburg Research is a prominent short-selling firm.

The short seller stressed that its report “represents our opinion and investigative commentary” and urged readers to draw their own conclusions about Adani Group.

A prominent activist investment firm, Hindenburg rose to national prominence after it published a report detailing malfeasance at the electric vehicle firm Nikola Corp. in 2020.

Hindenburg said Nikola had engaged in an “intricate fraud,” including an instance in which the company faked a video that appeared to show one of its electric trucks driving down a highway. In actuality, the company “simply filmed it rolling down the hill.”

Nikola founder Trevor Milton was later found guilty of securities fraud after Hindenburg’s allegations prompted an investigation.


By: Ny Post

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Tennessee pro-life center funding – One America News Network

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Tennessee Governor Bill Lee gives the command to start engines prior to the NASCAR Cup Series All-Star Race at Bristol Motor Speedway on July 15, 2020 in Bristol, Tennessee. (Photo by Jared C. Tilton/Getty Images)
Tennessee Governor Bill Lee gives the command to start engines prior to the NASCAR Cup Series All-Star Race at Bristol Motor Speedway on July 15, 2020 in Bristol, Tennessee. (Photo by Jared C. Tilton/Getty Images)

OAN Roy Francis
9:14 AM PT – Wednesday, February 8, 2023

Governor Bill Lee of Tennessee has proposed establishing a $100 million grant program for pro-life crisis center in his state.

Bill Lee (R-Tenn.) unveiled his plan, stating that his state has a “moral obligation” to support families. Under this plan, Tennessee would transform into “one of the top spending states” on organizations that support pregnant women who are in need of help and resources to keep their babies, rather than making the choice of abortion.

“Pro-life is much more than defending the lives of the unborn,” Lee said. “This is not a matter of politics. This is about human dignity.”

Another part of the plan is to expand “paid parental leave for state employees and widening the Medicaid eligibility for pregnant women and parents.”

“If approved,” the governor explained. “Tennessee will be the first Medicaid program in the nation to implement this kind of support. That’s pro-life. That’s pro-family,”

The governor’s administration also will demand that the federal government pay the cost of diapers for Medicaid recipients for a period of up to two years.

The governor, who is on the advisory board for a crisis pregnancy center, said that his other priorities include teacher pay raise, upgrading the state’s transportation system, and cleaning up toxic waste at industrial sites.

“We can have a healthy debate about the policy specifics, but we can also agree that America is rooted in a commitment to human dignity,” Lee said later on. “There was a significant shift in this country last year when it comes to protecting the lives of the unborn. We now all have an opportunity and a moral obligation to support strong Tennessee families.”

This plan was unveiled during Lee’s annual State of the State address which was held in front of the Republican-led legislature.

The governor touts his state as “a guiding light for opportunity, security & freedom” and laid out his agenda going forward, which was met with protests from the Democrats in the state of Tennessee.




By: OAN

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Columbia student from Syria loses nieces, sister-in-law in earthquake

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A 28-year-old Syrian student at Columbia University lost his two young nieces and their mom in the devastating earthquake that has claimed at least 11,000 lives in his country and neighboring Turkey.

Hussein Akoush, a student at the Ivy League school in Manhattan since 2021, told The Daily Beast that he was sent into a “panic” when a friend texted him about “massive destruction” in his hometown of Al-Atarib in northwestern Aleppo.

“I saw the magnitude of the earthquake was 7.8. At this point, I realized it was huge,” he told the outlet.

“I had to check in on my family in Syria. So I sent messages to all my sisters and my brother, but none of them received my messages,” said Akoush, who moved to Turkey in 2016 and then to the Big Apple in 2021 to study neuroscience.


Hussein Akoush, 28, a Columbia University student who lost his two nieces and their mom in the earthquake.
Hussein Akoush, 28, a Syrian student at Columbia University, lost his two young nieces and their mom in the devastating earthquake.
GoFundMe

He finally heard from his uncle, who said, “‘Don’t worry, we’re fine, your mother and your sister are well,” Akoush told The Daily Beast.

“‘Your brother’s building collapsed but we managed to take him out of the ruins. But we know nothing about his wife and two daughters,’” he said his uncle told him.

Eventually, he learned that his nieces — 6-year-old Sedra and 5-year-old Maria — and their mom Fatima perished in the disaster.


Five-year-old Maria and 6-year-old Sedra, who died in the quake
Five-year-old Maria and 6-year-old Sedra, who died in the quake, seen in undated photos.
Courtesy of Houssein Akoush

“With a heavy heart and profound grief, I announce the passing away of my two nieces and their mother in last night’s earthquake,” Akoush said on Twitter.

“So, my brother lost his wife and his two daughters,” he told The Daily Beast, adding that his brother has undergone surgery for a broken arm.

“It was a terrible night… I was not able to sleep,” he said.


Syrian rescuers and civilians gather at a collapsed building in the town of Jandairis in Syria.
The death toll across Turkey and Syria has surpassed 11,000.
AFP via Getty Images

In a GoFundMe page from 2020, Akoush wrote that “before the Syrian revolution began, I was a hardworking student. I used to be top of my class but I was obliged to drop out of the School of Dentistry at Aleppo University in 2012 for fear of arrest by the Syrian Government due its violent response to the peaceful protests on campus.

“During the war, I dedicated myself to peaceful activism against the brutal dictatorship of Bashar Al Assad, as I watched friends and family members and innocent civilians being ruthlessly killed,” he continued.

Akoush said he learned English, decided to move to Turkey and became a freelance journalist after facing “a litany of death threats and constant bombardment.”  


Hussein Akoush, 28, a Columbia University student who lost his two nieces and their mom in the earthquake.
“With a heavy heart and profound grief, I announce the passing away of my two nieces and their mother in last night’s earthquake,” Akoush wrote on Twitter.
Twitter / @HousseinAk

“Fortunately, I was awarded a partial scholarship from Columbia to cover half of the tuition but it is still not enough and that is why I am hoping you will make a donation to help pay for my first year of tuition,” he wrote.

Akoush received $51,426 in donations, surpassing his goal of $50,000.




By: Ny Post

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I have to ‘learn to read’ before Barbra Streisand memoir

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Lea Michele is poking fun at rumors claiming she can’t read, joking that Barbra Streisand’s memoir release has given her a looming deadline.

“265 days to learn to read,” the “Glee” alum captioned a TikTok shared Wednesday, which showed the actress covering her mouth in a shocked expression.

Michele, 36, leaned out of the video’s frame to show the cover of Streisand’s upcoming memoir, “My Name Is Barbra.”

The 80-year-old singer’s book will be published in November, with her publisher calling it “frank, funny, opinionated, and charming.”

A photo of Lea Michele and Barbra Streisand
Lea Michele joked she wants to “learn to read” before Barbra Streisand’s memoir is released.
Getty Images for DGA

In a press release, Viking wrote, “Barbra Streisand is a living legend, a woman who in a career spanning six decades has excelled in every area of entertainment, and this engrossing and delightful book will be eagerly welcomed by her millions of fans.”

The statement continued, “Dozens of books have been written about Streisand, and now in My Name Is Barbra, she tells her story in her own words.”

Michele’s social media upload, which her followers praised as “iconic” and “funny,” did not mark the first time she has addressed speculation about her reading and writing skills.

The Broadway star called the rumors “sad” in a September 2022 New York Times interview.

Lea Michele covers mouth with shocked expression
The “Glee” alum has “265 days” left.

Lea Michele shows Barbra Streisand cover
The “Glee” alum has “265 days” left.


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Lea Michele smiles with shocked expression in front of Barbra Streisand memoir
The “Glee” alum has “265 days” left.


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“I think often if I were a man, a lot of this wouldn’t be the case,” she said, pointing out that she showed up to the “Glee” set with her lines memorized “every single day” for six seasons.

Last month, one of Michele’s friends — and former “Scream Queens” co-star” — Emma Roberts played coy about the longstanding gossip on “Watch What Happens Live With Andy Cohen.”

Michele has clapped back at speculation in the past.
Getty Images for SiriusXM

“We have not been in book club together,” the “American Horror Story” alum teased.

However, when Michele began starring in “Funny Girl” on Broadway last year, she received, and presumably read, a “beautiful letter” from Streisand, who once played the role.

“It was very sweet,” Michele gushed to Seth Meyers in December 2022. “She was like, ‘It’s really wonderful when your dreams come true, isn’t it?’”

The Emmy nominee “fell to [her] knees” over the note and immediately called her loved ones.


By: Ny Post

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