US Charges Billionaire Gautam Adani with Bribery and Other Financial Crimes

Gautam Adani, the chairman of Indian conglomerate Adani Group, has been indicted in New York in connection with an alleged multibillion-dollar bribery and fraud scheme. The indictment alleges that Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay approximately $1.2 million in bribes to Indian officials in exchange for solar energy supply contracts, which were expected to yield $2 billion in profits. Adani allegedly agreed to pay $265 million to Indian officials to obtain the contracts, while the other defendants agreed to pay approximately $1.2 million in bribes. Adani is also accused of making false representations to US investors and international financial institutions.