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World's 4th-richest person loses Sh12.6 trillion in a flash

Indian national Gautam Adani was, until recently, the world's fourth-richest person. [File, Reuters]

Indian business tycoon Gautam Adani is in the eye of a storm after a dramatic crash in the stocks of his companies.

Adani's businesses have lost more than $100 billion (Sh12.6 trillion) after a U.S. investment firm, Hindenburg Research, alleged that the companies engaged in stock market manipulation and fraud. The Adani Group has called the allegations "nothing but a lie."

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