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What will be the impact on Adani Group's stock price due to the Swiss investigation by the end of 2024?
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Story
Swiss Authorities Freeze $310 Million in Six Banks in Adani Investigation
Sep 13, 2024, 03:12 AM
Swiss authorities have frozen over $310 million in funds across multiple Swiss bank accounts as part of an investigation into the Adani Group, dating back to 2021. The investigation involves allegations of money laundering and securities forgery. Swiss prosecutors revealed that the funds were held by an alleged frontman for Gautam Adani in six banks. The Federal Criminal Court disclosed these details, and the Swiss media outlet GothamCity reported the information, which was cited by Hindenburg Research. The Adani Group has strongly denied these allegations, stating that they have no involvement in any Swiss court proceedings and that none of their company accounts have been subject to sequestration.
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