BENGALURU -- A Swiss court has frozen $311 million from a company that allegedly laundered money for India's Adani Group through offshore funds in Mauritius and Bermuda -- claims that the ports-to-telecom conglomerate has blasted as "absurd."
A 12-page ruling by the Federal Criminal Court showed that prosecutors froze the assets of a company identified as A.Ltd as part of an investigation into its owner that began in December 2021, more than a year before U.S.-based short seller Hindenburg Research alleged that Adani had engaged in "brazen stock market manipulation".
