Adani Group, India’s Biggest Corporation, Accused by Hindenburg Research of ‘Largest Con’ in History

Adani Group, India’s largest corporation and an aspiring media empire builder, has been accused by a U.S. investment firm of “pulling the largest con in corporate history.” Hindenburg Research, a firm that engages in short-selling of company stocks in anticipation of a share price decline, Tuesday published a research document which said that the $218 billion Adani group was engaged in “brazen stock manipulation,” “accounting fraud” and money laundering.” Adani Group denied the accusations. “The group has always been in compliance with all laws,” said chief financial officer, Jugeshinder Singh, in a statement on Wednesday. The group’s founder, Gautam Adani,… Read Full Article