Asia’s richest man, Gautam Adani, saw his companies shed $68 billion in market value after short-selling firm Hindenburg Research accused him of “pulling the largest con in corporate history,” triggering a massive sell-off of Adani stocks.
The report last week from U.S.-based Hindenburg attacked India’s second-largest conglomerate for alleged stock price manipulation and fraud just as the group began a share offering meant to raise $2.5 billion.
