The US short-seller acknowledged that the investigation, which started in 2021, has supplied insights into monetary practices involving opaque offshore entities linked to the Indian conglomerate.
A Swiss media report indicated that the Geneva Public Prosecutor’s Workplace had been investigating alleged misconduct by the Adani conglomerate effectively earlier than activist traders from Hindenburg Analysis made their preliminary accusations.
“Greater than $310 million belonging to an alleged entrance man for billionaire Gautam Adani is sequestered in six Swiss banks. The Workplace of the Lawyer Basic of Switzerland (OAG) took over the investigation after the case was revealed within the press,” mentioned information outlet Gotham Metropolis in its report.