> Fraud claims wipe $45 bn off India's Adani Group stocks / 337Y93K
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Fraud claims wipe $45 bn off India's Adani Group stocks / 337Y93K
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Shares in the business empire of Asia's richest man Gautam Adani nosedived on Friday 27 January 2023, extending this week's losses to $45 billion, days after a US investment firm claimed it had committed "brazen" corporate fraud.
Adani, 60, began his week the world's third-richest person but has tumbled down the rankings to seventh on Forbes' billionaires tracker after a $22.6 billion hit to his fortune in Friday's trade.
His flagship Adani Enterprises plunged nearly 20 percent over the day's trade in Mumbai, briefly triggering an automatic trading halt, before recovering slightly to close 18.52 percent lower. IMAGES AND SOUNDBITES