FINSOC Weekly Wraps Vol. 23

Feb 8, 2023 Weekly Wraps

Fear of Contagion as Adani Group accused of Fraud

Since the release of the Hindenburg report which accuses the Adani group of the “greatest fraud in economic history”, the Indian industrial conglomerate has lost over $140 billion in market value.

The group faces allegations of various fraudulent activities including “brazen stock manipulation”, breach of shareholder disclosure laws and money laundering.