Jo Johnson resigns as director of firm allegedly linked to Adani empire

Former UK PM's brother quits board of Elara Capital days after it was accused of using funds to manipulate share prices

Jo Johnson, the younger brother of the former prime minister Boris Johnson, has resigned as a director of a London-based investment bank allegedly linked to the Indian billionaire Gautam Adani's crisis-ridden business empire.

Lord Johnson, a former Conservative minister who was given a peerage by his brother in 2020, resigned from the board of Elara Capital on Wednesday just days after Elara was accused of using Mauritius-based funds to manipulate the share price of Adani-linked companies and obscure their ultimate ownership.