The Indian billionaire Gautam Adani, the subject of accusations of stock market manipulation and fraud, purchased Haifa’s port days before the allegations were made public.
In light of accusations made by Hindenburg Research, which claimed Adani was “performing the greatest fraud in corporate history” in a report published on January 24, Haaretz examined Adani’s acquisition of the port in the Israeli seaside city on Wednesday.
The Adani Group was charged by Hindenburg, a New York City-based company formed by Jewish Nathan Anderson, with “a blatant stock manipulation and accounting fraud scheme over decades.” Hindenburg produces papers revealing evidence of corporate fraud.
According to Haaretz, Adani paid $1.18 billion for the port, 55% more than the next-closest proposal. Adani and Israeli Prime Minister Benjamin Netanyahu officially shook hands to seal the sale on January 31. On January 10, the sale concluded.
With the additional funds, Netanyahu expects to move on with his plans to build a rail connecting the port to Saudi Arabia.
The Abraham Accords are the normalization pacts between Israel and four Arab nations, and the prime minister has stated that he intends to include Saudi Arabia in them. Adani joined the team.
On the day the handshake took place, Adani posted on Twitter, “Privileged to meet with @IsraeliPM @netanyahu on this important day as the Port of Haifa is handed over to the Adani Group.” The Abraham Declaration will be a game changer for the Mediterranean sea logistics.”
Privileged to meet with @IsraeliPM @netanyahu on this momentous day as the Port of Haifa is handed over to the Adani Group. The Abraham Accord will be a game changer for the Mediterranean sea logistics. Adani Gadot set to transform Haifa Port into a landmark for all to admire. pic.twitter.com/Cml2t8j1Iv
— Gautam Adani (@gautam_adani) January 31, 2023
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