Swiss prosecutors freeze $310mn as part of Adani investigation

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The story "Swiss prosecutors freeze $310mn as part of Adani investigation" was covered 14 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 14h ago

Swiss prosecutors freeze $310mn as part of Adani investigation - Financial Times

Quick Summary:

The FT has also reported that in recent years Chang sold $2bn of coal to Adani at what appeared to be above-market prices, using a business registered to his home address in Taiwan.

Swiss prosecutors suspect the alleged frontman is “not the actual beneficial owner” of the company holding the sequestered $310mn, the judgment said.

Adani said it had not received any requests for information or clarification from the Swiss authorities and that its “overseas holding structure is transparent, fully disclosed, and compliant with all relevant laws”.