Adani fights money laundering claims in Switzerland as Sh40 billion frozen
Indian billionaire Gautam Adani.
Adani Group, the Indian company that has caused a furore over plans to lease Kenya's main airport, is in the news after Sh39.99 billion was frozen in Switzerland over money laundering allegations.
Newly released court documents show that a man who had dealings with five Swiss banks is being investigated by the Swiss Attorney General. More than $310 million (Sh39.99 billion) has been frozen as a result of the investigation.
A number of platforms have linked the man to the Adani Group, but Adani has vehemently denied any connection.
According to Swiss outlet Gotham City, the person is a frontman for Adani.
However, Adani has hit back at the claims, which have also been amplified by US-based Hindenburg Research.
“We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration [temporarily taken over] by any authority,” the company said in a statement.
“Furthermore, even in the alleged order, the Swiss court has neither mentioned our group companies nor have we received any requests for clarification or information from any such authority or regulatory body,” it added.
Adani submitted a proposal to the Kenya Airports Authority (KAA) earlier this year to operate Jomo Kenyatta International Airport (JKIA) under a 30-year concession.
