Adani Group, the Indian firm that has caused furore over plans to lease Kenya’s main airport to them, is in the news following freezing of Sh39.99 billion in Switzerland over money laundering.

Newly released court documents indicate that a man who has been dealing with five Swiss banks is under investigation by the Attorney-General of Switzerland. Due to the investigation, more than $310 million (Sh39.99 billion) has been frozen.

A number of platforms have linked the man to Adani Group, but Adani has vehemently denied any connection.

According to Swiss outlet Gotham City, the person is an Adani front man.

However, Adani has fought back the claims that have also been amplified by US-based firm Hindenburg Research.

“We unequivocally reject and deny the baseless allegations presented. The Adani Group has no involvement in any Swiss court proceedings, nor have any of our company accounts been subject to sequestration [temporarily taken over] by any authority,” the company said in a statement.

“Furthermore, even in the alleged order, the Swiss court has neither mentioned our group companies, nor have we received any requests for clarification or information form any such authority or regulatory body,” it added.

Adani has made a proposal to the Kenya Airports Authority (KAA) earlier this year to run Jomo Kenyatta International Airport (JKIA) under a 30-year concession.