Earlier this year, the Adani group faced the allegations by the Hindenburg research, and it seems that the troubles for the Adani are not over yet. Now, the Organized Crime and Corruption Reporting Project, abbreviated as the OCCRP has put new allegations against the Adani Group. The OCCRP alleges the Adani Group of stock manipulation.
Before understanding what these allegations were, let us first know the OCCPR better.
What is the OCCPR?
The Organized Crime and Corruption Reporting Project (OCCPR) was founded in the year 2006 by two investigative journalists Bulgarian Paul Radu and American Drew Sullivan. The ideation started when the two journalists realized that they held strong similarities in their experiences of reporting and investigating, especially on themes like corruption and crime.
Drew Sullivan expressed the formation of the group once by saying that “OCCRP wasn’t really planned – it was born of necessity. We were all working on the same intractable problems in our own countries. But a couple of us realized this, and communicated.”
ALSO READ: B20 Business Summit 2023: Check Full List of the Member Countries and Guest Countries
Earlier, the OCCRP was funded by the United Nations Democracy Fund (UNDEF). Its office was first opened in Sarajevo. In all these years, the group grew to a network of more than 150 journalists across 30 countries from a team of just six journalists working in 5 nations. The vision of the group is to create an efficient network of journalists that holds among them easy communication and data sharing so that the global networks of crime and corruption can be understood accurately and efficiently and exposed in a better way.
The OCCRP network joins hands 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). The OCCRP is a member of the Global Investigative Journalism Network too.
How has OCCRP impacted in all these years?
According to its own records, the reporting by OCCRP since the year 2009 has directly sown the seeds for over 398 official investigations, along with 131 resignations, 621 sentences and arrests, and more than $10 billion in fines levied and money seized.
The OCCRP has been directly involved in numerous high-profile probes in all these years. These included numerous investigations on the oligarchs of Russia and Vladimir Putin. The network has also worked on the Panama Papers project with the International Consortium of Investigative Journalists. It produced over 40 stories or more on corruption through offshore entities. It won the Pulitzer Prize for Journalism in 2017.
This year, the organization has been nominated for the Nobel Peace Prize for its contributions to peace by unmasking political corruption and organized crime.
ALSO READ: Here Is The List Of Companies Behind The Launch Of Chandrayaan-3 Mission
The Allegations
The report by OCCRP against Adani was published on August 31. The report alleges that the exclusive documents it got showcase that in two cases, investors have reported ties to the majority of shareholders of the group, the Adani family, and aided in manipulating the stock prices of the Adani companies.
On the other side, the Adani Group has categorically denied all these allegations. The Adani group has termed these allegations as a “concerted bid by Soros-funded interests” for the purpose of “reviving the meritless Hindenburg report”.
ALSO READ: G20 Summit 2023: What Is Open In Delhi? What Is Closed? Here’s Every Detail You Were Waiting For!
ALSO READ: What is meant by a Privilege Motion? Understand the concept of privilege motion completely
Categories: Trends
Source: vcmp.edu.vn