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  5. US Charges Billionaire Gautam Adani with Bribery and Other Financial Crimes

US Charges Billionaire Gautam Adani with Bribery and Other Financial Crimes

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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.

  1. IN
    Amit Malviya
    Bharatiya Janata Party
    1. All the states mentioned here were Opposition ruled during that time. So, before you pontificate, answer on the bribes the Congress and its allies accepted.
  2. IN
    Rahul Gandhi
    Indian National Congress party
    1. We demand that Adani be immediately arrested. But we know that won't happen as Modi is protecting him.
    2. Modi can't act even if he wants to, because he is controlled by Adani.
  3. IN
    Sagarika Ghose
    Trinamool Congress party
    1. Will Narendra Modi break his silence now that the US has formally indicted his favorite businessman?
    2. It is no secret that the Modi government actively promotes the Adani Group at the cost of other business houses. We fully support Indian entrepreneurship but make a clear distinction between openness to business and cronyism.
  4. US
    Lisa H Miller
    US Attorney's Office
    1. These offenses were allegedly committed by senior executives and directors to obtain and finance massive state energy supply contracts through corruption and fraud at the expense of US investors.
  5. US
    Breon Peace
    US Attorney's Office
    1. The defendants orchestrated an elaborate scheme to bribe Indian government officials to secure contracts worth billions of dollars and Gautam S Adani, Sagar R Adani and Vneet S Jaain lied about the bribery scheme as they sought to raise capital from US and international investors.
    2. Bribing government officials in India is not news, but the amounts mentioned are staggering. I suspect the US has names of some of those who were the intended recipients. This has potential reverberations for the Indian political scene. There is more to come.
  6. IN
    Adani Group
    1. As stated by the US Department of Justice itself, 'the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty'. All possible legal recourse will be sought.
  7. IN
    Sagar Adani
    Adani Group
    1. All the projects we got have not been granted by any concession but through an independent and transparent auction system.
  8. AU
    Ian Hall
    Griffith University
    1. His media outlets are very pro-government, pro-Modi, pro-BJP.
    2. India's economy is dominated by these big groups, and Adani Group has emerged as one of the largest and most successful over the last 10 years.
    3. However, because Gautam Adani is so close to Narendra Modi … it's certainly going to be a diplomatic headache.

sources

  1. 1.ABC News (Australia)
  2. 2.The Guardian
  3. 3.Al Jazeera
  4. 4.France 24
  5. 5.South China Morning Post
  6. 6.The Washington Post
  7. 7.BBC
  8. 8.The Times
  9. 9.DW News
  10. 10.CNA News
  11. 11.The Korea Herald
  12. 12.ABC News

perspectives

  1. 1.US Foreign Policy
  2. 2.Corruption
  3. 3.Billionaire
  4. 4.US-India relations
  5. 5.India under Modi
  6. 6.Fraud
  7. 7.Indian Politics
  8. 8.Conglomerate
  9. 9.Indian Economy
  10. 10.Renewable energy

countries

  1. 1.AustraliaAU
  2. 2.BangladeshBD
  3. 3.CanadaCA
  4. 4.ChinaCN
  5. 5.FranceFR
  6. 6.Hong KongHK
  7. 7.IndonesiaID
  8. 8.IsraelIL
  9. 9.IndiaIN
  10. 10.KenyaKE
  11. 11.Sri LankaLK
  12. 12.SingaporeSG

organizations

  1. 1.Adani GroupIN
  2. 2.Azure
  3. 3.Hindenburg Research
  4. 4.US Department of JusticeUS
  5. 5.US Securities and Exchange CommissionUS
  6. 6.Bharatiya Janata Party
  7. 7.Securities and Exchange Board of India
  8. 8.Azure Power Global
  9. 9.Bravus
  10. 10.Himalaya Farm Alliance
  11. 11.New York Stock Exchange
  12. 12.Solar Energy Corporation of India

persons

  1. 1.Gautam Adani
  2. 2.Sagar AdaniIN
  3. 3.Narendra ModiIN
  4. 4.Breon PeaceUS
  5. 5.Rahul GandhiIN
  6. 6.Vneet Jaain
  7. 7.Cyril Cabanes
  8. 8.Donald TrumpUS
  9. 9.Lisa Miller
  10. 10.Ranjit Gupta
  11. 11.Adnan Abidi
  12. 12.Ambareesh BaligaIN

technicals

  1. 1.Foreign Corrupt Practices Act
  2. 2.Hindenburg
  3. 3.Great Barrier Reef
  4. 4.North Queensland Export Terminal
US Charges Billionaire Gautam Adani with Bribery and Other Financial Crimes