Earlier this year, the Adani group faced allegations from the Hindenburg investigation, and it seems the troubles for Adani are not over yet. Now the Organized Crime and Corruption Reporting Project, OCCRP for short, has made new allegations against the Adani Group. OCCRP accuses Adani Group of stock manipulation.
Before we understand what the charges are, let’s first get to know the OCCPR better.
What is OCCPR?
The Organized Crime and Corruption Reporting Project (OCCPR) was founded in 2006 by two investigative journalists, Bulgarian Paul Radu and American Drew Sullivan. The idea started when the two journalists realized that they had great similarities in reporting and research experiences, especially on topics like corruption and crime.
Drew Sullivan once expressed the founding of the group by saying that “OCCRP wasn’t really planned—it was born out of necessity. We were all working on the same intractable problems in our countries. But a few of us realized it and communicated.”
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Previously, OCCRP was funded by the United Nations Endowment for Democracy (UNDEF). The office was first opened in Sarajevo. During all these years, the group has grown to a network of more than 150 journalists in 30 countries from a team of just six journalists working in 5 countries. The group’s vision is to create an effective network of journalists that maintains simple communication and data exchange among them so that global crime and corruption networks can be accurately and efficiently understood and exposed in a better way.
The OCCRP network teams up with regional partners such as Arab Reporters for Investigative Journalism (ARIJ), Radio Free Europe/Radio Liberty (RFE/RL) and Centro Latino Americano de Investigacion Periodistica (CLIP). OCCRP is also a member of the Global Network of Investigative Journalism.
How has OCCRP made an impact all these years?
According to its own records, OCCRP’s reporting since 2009 directly planted the seeds for more than 398 official investigations, along with 131 resignations, 621 fines and arrests, and more than $10 billion in fines and forfeitures.
OCCRP has been directly involved in a number of high profile investigations over the years. This includes numerous investigations into Russian oligarchs and Vladimir Putin. The network also worked on the Panama Papers project with the International Consortium of Investigative Journalists. He has produced over 40 or more stories of corruption through offshore entities. He won the Pulitzer Prize for journalism in 2017.
The organization was nominated for the Nobel Peace Prize this year for its contribution to peace by exposing political corruption and organized crime.
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Accusations
The OCCRP report against Adani was released on August 31. The report said exclusive documents obtained by him showed that in two cases investors had reported links to the group’s majority shareholder, the Adani family, and helped manipulate the share price of Adani companies.
On the other hand, Adani Group categorically denied all these accusations. The Adani Group called the allegations “a concerted attempt by Soros-funded interests” to “revive the worthless Hindenburg Report”.
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Categories: Trends
Source: HIS Education