Fresh Blow To Adani After Wikipedia Claims Entries On Group Manipulated

Nate Anderson, the founder of US short seller Hindenburg Research, has now fired a fresh salvo at the embattled Adani Group citing Signpost, Wikipedia's independent newspaper.

Anderson tweeted a Signpost article showing how Adani systematically manipulated its Wikipedia entries using sock puppet accounts (fake accounts), undisclosed paid editors, and removing evidence of conflicts of interest.

Of all things—now the Signpost, Wikipedia's independent newspaper, is out w/ an article showing how Adani systematically manipulated its Wikipedia entries using sock puppet accounts, undisclosed paid editors & removing evidence of conflicts of interest.https://t.co/s7Yzw8rXys pic.twitter.com/UVG6dVWtfu

— Nate Anderson (@ClarityToast) February 20, 2023

A sockpuppet is a phony name or identity created by an online user to argue, bully or review products as another person.

According to media reports, Wikipedia in a February 20 'Disinformation Report' referred to the "con" alleged by Hindenburg Report, to ask whether Adani and his employees also try to con Wikipedia readers with non-neutral PR versions of related Wikipedia articles?

Adani Group's spokesperson did not respond to an email seeking comments, reported PTI.

In its report, The Signpost alleged that over 40 sock puppets or undeclared paid editors created or revised 9 articles on the Adani family and their businesses. Some of edits on Adani were by company employees, the internet-based encylopedia alleged, listing IP addresses that edited information on Adani, his wife Priti, son Karan, nephew Pranav and group companies.

All of these accounts were later blocked or banned by Wikipedia.

The report also said that 25 socks edited the Wiki article on Adani Group Chairman Gautam Adani, while 22 socks edited the articles on Adani Group.

Wikipedia is a wiki, meaning anyone can edit nearly any page and improve articles immediately. But the principle it operates on is neutrality.

According to the report, Wikipedia said the article or a write-up on Adani was started in 2007 in "a straightforward style" but by 2012, three editors, who were later blocked or banned as sockpuppets or undeclared paid editors, had edited the information on "the philanthropy section, made a few reverts, and removed a warning tax".

The report also cited similar instances for information on family members and the group.

"Perhaps the most concerning finding is that Hatchens, an articles for creation reviewer, was banned for abusing his position and possibly corruptly approving several Adani articles. He edited seven of the nine articles examined," the report added.

Following Wikipedia's claim, on Tueday, Adani Group's market capitalisation slipped below $100 billion even as the conglomerate struggled to pacify investors. On Wednesday, all 10 stocks belonging to the conglomerate came under a fresh bout of intense selling pressure on Wednesday as the group’s debt levels and repayment capabilities continued to plague investors.

Adani Enterprises and Adani Ports and Special Economic Zone — the two most valuable companies of the group — tumbled 10.4 and 6.2 per cent, respectively, on Wednesday.

Anderson's claim comes almost a month after Hindenburg's report on Billionaire Gautam Adani-led Adani Group. Adani, a first-generation entrepreneur, has lost over $70 billion in net worth and slipped to 25th rank on the world billionaire index from being Asia's richest and the world's third most wealthy businessman.

Adani's net worth has shrunk to about $49 billion from close to $120 billion before January 24, and the publicly traded companies he controls have lost over $125 billion in market value.

On January 24, Hindenburg Research released a report titled 'Adani Group: How the World's 3rd Richest Man Is Pulling the Largest Con In Corporate History'. It accused Adani's companies of "brazen accounting fraud, stock manipulation and money laundering ... taking place over the course of decades."

The group has denied allegations, calling them "malicious", "baseless" and a "calculated attack on India".

Wikipedia said billionaires have a history of apparent undeclared paid editing on Wikipedia, including Kenneth C. Griffin (paywall), Robert T. Brockman, Robert F. Smith and several Russian oligarchs. A few near- or former-billionaires including Elizabeth Holmes, Greg Lindberg, Jeffrey Epstein, and Peter Nygard have also appeared to hire people for undeclared paid editing.

(With inputs from PTI)