Adani Group firms lose $9bn in value amid short-seller claims
by Rupert Neate Wealth correspondent from on (#686BP)
Hindenburg Research says world's third-richest person, Gautam Adani, is pulling largest con in corporate history'
More than $9bn (7.3bn) was wiped off the fortune of companies partly owned by the world's third-richest person, after an activist investor accused him of pulling the largest con in corporate history".
Shares in listed companies tied to Adani's empire Adani Group lost $9.4bn in market value on Wednesday after short seller investment firm Hindenburg Research published a detailed investigation into accusations of brazen stock manipulation", accounting fraud" and money laundering."
Continue reading...