Hindenburg probe lays serious charges against SEBI chief Madhavi Buch, Adani scam, full story

Hindenburg Probe: Hindenburg accused SEBI chief Butch and her husband of having stakes in a shadow offshore fund used in the Adani money laundering scandal. Hindenburg made the accusation in a blog post 18 months after Adani's earlier report. Earlier, Hindenburg had posted on social media on Saturday in which he hinted at a big revelation related to the Adani company. It was written in the post that it is going to be big in India soon. Madhavi Buch and her husband have stakes in foreign funds used in Adani scam Current SEBI chief Madhavi Buch and her husband have stakes in foreign funds used in the Adani scam, a short seller said citing whistleblower documents. Vinod Adhani, elder brother of group chairman Gautam Adhani, controlled Bermuda and Mauritius funds. Hindenburg alleges that these funds were used to launder money and inflate the price of the Group's shares. In his latest statement, Hindenburg said a financial declaration signed by a president at IIFL said the source of the investment was 'salary' and the couple's net worth was estimated at US$10 million. The report further alleges, “Despite thousands of major Indian mutual fund products, which are tasked with regulating an industry, SEBI chief Madhavi Buch and her husband, the stake was modest in the multi-tiered foreign financial structure. assets. What is Offshore Fund: Funds that invest in foreign markets are called offshore funds. These are also called foreign or international funds. Hindenburg said their assets passed through a known high-risk jurisdiction, overseen by an organization allegedly linked to fraud. The same company run by Adani directors was used substantially by Vinod Adani in the Adani money laundering scam. Also Read: Wayanad Landslide News: 'Wayanadu disaster not normal', PM Modi visits landslide-affected areas, meets victims Congress launches major attack on Modi government after Hindenburg allegations Congress targets controller of US short-seller Hindenburg Research. and Exchange Board of India (SEBI) chairperson Madhavi Buch, were heavily targeted by the Modi government. Congress used the adage 'Who will protect the watchman'? Congress general secretary Jairam Ramesh took to social media to target Hindenburg's comments. Sebi is empty-handed in probing who funded Adani's foreign shareholders, Hindenburg said if Sebi really wants to find foreign fund holders, perhaps the Sebi chief should have started looking in the mirror, said Hindenburg. and her husband, Dhawal Buch, hid their holdings in the same obscure offshore Bermuda and Mauritius funds discovered in the same complex system used by Vinod Adani. Fund manager Trident Trust on March 22, 2017, weeks before Madhavi Buch was appointed as the head of Sebi. The email is about his and his wife's investment in the Global Dynamic Opportunities Fund (GDOF). Hindenburg Research had leveled serious allegations against the Adani Group in January this year, accusing the Adani Group of engaging in 'blatant stock manipulation and account manipulation'. However, the panel said the allegation was completely baseless. He said this was done with a malicious intent to harm his share sales. At that time, Adani Enterprises, the flagship company of the Adani Group, was gearing up to launch a Rs 20,000 crore FPO. Prime Minister Modi visited Wayanad and met the victims The post Hindenburg investigation lays serious charges against SEBI chief Madhavi Buch, knows the whole story in connection with the Adani scam appeared first on Prabhat Khabar.