Hindenburg Research’s Nathan Anderson has hit back against the Press Trust of India (PTI) and Sputnik’s coverage alleging that the now-closed US research firm coordinated with Rahul Gandhi to target Adani. The founder slammed PTI’s recent article about Adani working with Israel’s intelligence agency Mossad agents to “expose” them as “lousy spy fiction,” proclaiming it seems to be “fabricated out of thin air.”

“A couple of days ago, Ammar Zaidi of the Press Trust of India (PTI) published a story claiming that Adani worked with dozens of Mossad agents to ‘expose’ us. The article reads like lousy spy fiction and looks to be fabricated out of thin air,” Anderson wrote on X. “The reporter didn’t bother to reach out to us for comment, one of the most basic functions of any credible journalist. Had he, we would have easily explained that none of the claimed events happened.”

Nate Anderson reacts to Hindenburg ‘coordinating’ with Rahul Gandhi

Sputnik India had previously reported that Mossad conducted a covert operation targetting the home servers of Indian Overseas Congress’ head Sam Pitroda, who is also a close associate of Congress leader Rahul Gandhi. The report suggested that the outcome had resulted in uncovering evidence backing the Congress’ alleged collusion with Hindenburg Research.

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Among the many claims Nate Anderson denies in his social media post, he most prominently hits out against Sputnik insisting that he and Rahul Gandhi met in Palo Alto in May 2023. He not only refuses to have met with any Indian politician, but also ever having been to Palo Alto. “I’ve never even been to Palo Alto, and no one on my team (nor I) nor any “allies” I’m aware of have met with or even spoken with any Indian politician, whether a member of the opposition or otherwise. Nor did we ever meet with or speak with any Biden officials, as also claimed by Sputnik,” he wrote, presenting his side.

Hindenburg Research vs Adani Group continues

The US financial research firm’s January 2023 report accused the Adani Group of “the largest con in corporate history,” which the latter repeatedly denied. Earlier this year, Anderson announced that the firm was being shut down, eventually emphasising that the closure was not linked to any threat. “As to why I retired — it is all in the letter [released on January 16 that announced shutting down of Hindenburg] — it is not based on any threat, health issue, personal issue or otherwise,” he said at the time. On top of that, he also stood by their research findings against the Adani Group.

“We have always believed in India’s potential and view market transparency and strong corporate governance as key factors that can fuel India’s growth story. We initially saw media articles outlining red flags, took a closer look, and just kept following the evidence,” he initially explained why Adani Group became the target of their research.

Hindenburg founder attacks Indian media, ‘conspiracy theories’

In his latest tweet, Anderson hit back against new accusations against Hindenburg, noting how the PTI article in question said that they worked with “a complex web of activist lawyers, journalists, hedge funds, and political figures.” The Hindenburg founder has since slammed these unfounded claims.

He even turned to how the report implied that Adani’s “spies” infiltrated “a premise in the suburban neighbourhood of Oakbrook Terrace, a small town in Illinois outside Chicago,” where encrypted “communications between privately held alternative asset management firms and activists based in India, the US, Europe, Canada, and Australia” had been found. Refuting the presence of any of their offices in Chicago, Anderson asserted that he hadn’t even been to the US city. “The article doesn’t even try to explain how a random suburban Chicago address has anything to do with anything. If there is some communications network involving all of these constituencies we’ve never been a part of it,” he added.

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The Hindenburg Research boss floated the possibility of Ammar Zaidi’s article having been concocted as an “absurd James Bond fantasy” by and Adani PR team. “Tellingly, not a single source went on the record or was even quoted for the article. It was completely sourced anonymously and included zero documentation to back up any of its claimed findings,” he argued.

The length diatribe on X finishes by questioning the claim of Adani’s comeback. Again doubling down on Hindenburg’s January 2023 report, he accused the Indian conglomerate of spreading “bizarre conspiracy theories” to their “allies in Indian media.”

“Adani never addressed the numerous issues we raised in our report, nor the numerous media articles reporting on additional overwhelming evidence of fraud and corruption. He also hasn’t responded to his U.S. indictment, where he stands accused of further fraud and corruption,” Anderson fumed online.