‘We will fight this to the end’ – Jeremiah Kioni declares battle with Adani after US fraud indictment
By Lutta Njomo, November 21, 2024Jubilee Secretary General Jeremiah Kioni has vowed to fight on to stop the Adani Group from taking over the Jomo Kenyatta International Airport (JKIA).
In a statement on Thursday, November 21, 2024, Kioni indicated that the battle to stop the Adani Group had been renewed following the indictment of Indian billionaire Gautam Adani and seven others for their roles in a multi-billion-dollar fraud scheme in the US.
Kioni noted that the entrance of the Adani Group into the country was shrouded in secrecy raising concerns over the credibility of their proposed takeover deal.
This forced them to raise the alarm, rejecting the proposed takeover deals through the Public-Private Partnership (PPP) model.
Adani is interested in carrying out JKIA rehabilitation and energy transmission through another deal with Kenya Electricity Transmission Company (KETRACO).
“We warned our fellow Kenyans the moment the Adani name was mentioned, and now, with his indictment in the USA, the truth is undeniable,” Kioni’s hard-hitting statement read in part.
He went on to rebuke government officials who brokered the deal maintaining that they failed to carry out due diligence before settling on Adani Group which is now facing charges in the US.
Nonetheless, Kioni who is among Azimio leaders pushing the opposition agenda, pledged to soldier and stop the planned takeover deals in the country.
“Those in government who signed this deal are clearly cut from the same cloth as Adani, corrupt and self-serving. We will not allow our country’s future to be compromised. For the people, for our country, for our freedom,we will fight this to the very end,” he added.
Indictment in US
According to the US Attorney’s Office in the Eastern District of New York, Gautam Adani, one of India’s richest men, whose business empire extends from ports and airports to renewable energy, will be charged with conspiracies to commit securities and wire fraud.
In a statement dated Wednesday, November 20, 2024, the US Attorney’s office detailed that Gautam will be charged alongside Sagar R. Adani and Vneet S. Jaain, executives of an Indian renewable-energy company.
It added that the indictment also charges Ranjit Gupta and Rupesh Agarwal, former executives of a renewable-energy company, Cyril Cabanes, Saurabh Agarwal and Deepak Malhotra, former employees of a Canadian institutional investor.
Gautam Adani and the co-accused are accused of a scheme to pay Ksh32 billion in bribes.
“This indictment alleges schemes to pay over $250 million in bribes to Indian government officials, to lie to investors and banks to raise billions of dollars, and to obstruct justice,” stated Deputy Assistant Attorney General Miller.
“These offences were allegedly committed by senior executives and directors to obtain and finance massive state energy supply contracts through corruption and fraud at the expense of U.S. investors. The Criminal Division will continue to aggressively prosecute corrupt, deceptive, and obstructive conduct that violates U.S. law, no matter where in the world it occurs.”
“Gautam Adani and seven other business executives allegedly bribed the Indian government to finance lucrative contracts designed to benefit their businesses. Adani and other defendants also defrauded investors by raising capital on the basis of false statements about bribery and corruption, while still other defendants allegedly attempted to conceal the bribery conspiracy by obstructing the government’s investigation,” stated FBI Assistant Director in Charge Dennehy.
Ruto defends Adani
Before the indictment, President William Ruto had come out to defend the multi-billion-shilling power transmission projects awarded to the Adani Group.
Ruto noted that the deal would save Kenyans from debt burden.
“The Adani group are investing Ksh.95 billion of their money in the transmission line. We would have otherwise gone to borrow that money and burden the people of Kenya,” Ruto stated while launching a power plant in Nakuru County.
Former Prime Minister Raila Odinga also defended the conglomerate recalling how he toured some of their facilities in India.