US examined Hindenburg allegations before giving loan to Adani

The US government concluded that short-seller Hindenburg Research’s allegations of corporate fraud against Indian billionaire Gautam Adani weren’t relevant before extending his conglomerate as much as $553 million for a container terminal in Sri Lanka, a senior US official said.

Allegations in a scathing report by US-based Hindenburg Research, which erased around $100 billion from the Adani Group’s market value earlier this year, were front and center as the International Development Finance Corp., or DFC, conducted a due diligence investigation of the conglomerate, an official from the US agency told Bloomberg.