"Marking the third round of investment in Adani stocks in the last four months, US based GQG Partners and others on Wednesday (yesterday) bought around $1 billion worth of the conglomerate's stocks." ET. "The GQG Partners Global Quality Equity Fund seeks to invest in high-quality companies with attractively priced future growth prospects while diversifying by end-consumer risk. Bridgehouse. In March, "US boutique investment firm GQG Partners Inc has bought shares worth $1.87 billion in four Adani group companies, marking the first major investment in the Indian conglomerate since a short-seller's critical report sparked a stock rout." Reuters. Then, GQG invested another $330 million-$530 million in Adani stocks in May. BT. So, GQG has invested over $3 billion in the Adani Group in three rounds. This is despite, "According to a Bloomberg report, the US Attorney's Office in Brooklyn, New York, has sent inquiries in recent months to institutional investors with large holdings in the India conglomerate, one person familiar with the inquiries said. The requests for information were focused on what Adani Group told those investors, said the person, who asked not to be identified because the probe isn't public. The Securities and Exchange Commission also has a similar probe underway, two other people said." ET. Perhaps, the SEC should ask whether GQG is investing funds from American investors or investors in India. The Hindenburg report said, "We have identified 38 Mauritius shell companies controlled by Vinod Adani or close associates." "The Vinod-Adani shells seem to serve several functions, including (1) stock parking / stock manipulation (2) and laundering money through Adani's private companies into the listed companies' balance sheets in order to maintain the appearance of financial health and solvency." In March, "The Centre has told Parliament it has no data on offshore shell companies owned by Indians, the admission coming just four days before Rahul Gandhi said huge investments were made in the Adani group through alleged shell companies and asked whose money it was." The Telegraph. Don't know or won't tell? In blatant interference to hide facts, "For more than a decade, sockpuppets - some of them being company employees - created 'puffery' around billionaire Gautam Adani, his family and the ports-to-power conglomerate he helmed by adding non-neutral material and removing warnings from information on Wikipedia, the free internet-based encyclopedia has alleged." BT. "Thanks to a 173-page report by a six-member panel appointed by India's Supreme Court, we now have a fairly good idea where the country's probe into the Adani Group is headed: Nowhere," wrote Andy Mukherjee. So whose money is GQG investing, American or Indian? Hope it's not the Indian taxpayer's.
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