Another blast from Hindenburg on Adani… Was the money in Swiss bank frozen?

The disclosure made this time by the American company is related to Swiss Bank. Hindenburg's latest report claims that Swiss Bank has frozen more than $310 million i.e. Rs 2600 crore as part of the investigation into money laundering and fraud of Adani Group.

If you are thinking that Gautam Adani has been freed from the ghost of Hindenburg, then this is your misunderstanding. An American research based company has dropped another bomb on Gautam Adani and Adani Group. This proves that Hindenburg is not going to leave Gautam Adani behind easily. 

The disclosure made by the American company this time is related to Swiss Bank. Hindenburg's latest report claims that Swiss Bank has frozen $310 million or more i.e. Rs 2600 crore under the investigation of money laundering and fraud of Adani Group.

The special thing is that this investigation has been going on for about 3 years. This latest case of Adani Group can be very serious and worrying for Adani Group. 

That too at a time when the group is planning to turn to retail investors to raise funds. Now investors will be eyeing the shares of Adani Group. It is possible that Adani Group shares may see a decline on Friday. Let us try to understand it in detail what the whole matter is.

Hindenburg Group's new allegation on Adani

American based company Hindenburg Research has made a new allegation or revelation against the Adani Group. The company posted on its social media account X and said that Swiss authorities have frozen $310 million or Rs 2600 crore deposited in 6 accounts as part of an investigation into allegations of money laundering and securities fraud related to the Adani Group. 

The information given by the American short seller has been given citing the records of the Swiss Criminal Court. According to the government agency, its investigation has been going on continuously since the year 2021. This investigation has shed light on financial transactions related to offshore entities related to the Adani Group.

Swiss media reports cited

Adani Group has been a topic of much discussion in Swiss media reports. American short seller Hindenburg, citing media reports, said that prosecutors gave information about how Adani's associate company (frontman) had invested in controversial funds of BVI/Mauritius and Bermuda. The special thing is that the money of these funds was invested in Adani shares. All these information has been received from the records of the Swiss Criminal Court.

Controversy arose again

In fact, no one thought that the fight between Adani Hindenburg was over. But it did not happen. At the same time, the new report has fueled this war again. Earlier last year, through the allegations against the Adani Group in 2023, SEBI Chairperson Madhabi Puri Buch and her husband Dhawal Buch have been accused of investing in an offshore fund, which is related to the Adani Group. 

Hindenburg Research short sells stocks - this means that it takes those stocks and hopes that their value will fall - when the value of the stock falls, Hindenburg Research buys them back at a lower price and makes a profit. It has made a lot of headlines due to the dispute with Adani.