Fraud investigation yet another reason to keep Australian taxpayers’ money out of Adani mine
Press release - 17 August, 2017
August 16, 2017: The Australian government must immediately rule out a taxpayer-funded loan to coal miner Adani after revelations the company is accused of fraudulently siphoning hundreds of millions of dollars of borrowed money into overseas tax havens.
 today published details around the allegations that the company inflated invoices for an electricity project in order to move US$235 million into offshore bank accounts.
“The fraud case currently before the courts is yet another warning of what a stupid idea it would be to give taxpayers’ money to Adani,” Greenpeace Climate and Energy Campaigner, Nikola Casule, said.
“There is already a cloud over the Northern Australia Infrastructure Facility’s consideration of the Adani Carmichael mine proposal but this should be the final nail in the coffin.
“To give a loan to a project that economists warn is a significant risk of becoming a stranded asset run by a company that is under investigation for funnelling borrowed money into overseas tax havens would be insanity.”
Greenpeace are calling on the government to listen to the tens of thousands of Australians who have spoken out against this project and immediately rule out loaning any money to the Carmichael rail line.
“According to the NAIF’s own charter this project should be ineligible as the company have stated they do not need the money to go ahead,” Casule said.
“The government must immediately rule out any taxpayer money going to this dangerous and divisive project.”
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