Billionaire Gautam Adani indicted in New York on bribery charges
CNN
Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday.
Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday. Authorities said Adani and seven other senior business executives promised more than $250 million in bribes to Indian government officials to secure solar energy contracts. Those bribes were “to lie to investors and banks to raise billions of dollars, and to obstruct justice,” said Deputy Assistant Attorney General Lisa Miller in a statement Wednesday. Worth more than $85 billion, Adani is Asia’s second-richest person behind countryman Mukesh Ambani, according to Bloomberg’s Billionaires Index. He is the founder of sprawling Indian conglomerate Adani Group. The solar energy supply contracts were projected to raise more than $2 billion in profits after tax over an approximately 20-year period. Authorities said Adani personally met with an Indian government official to advance the scheme, which took place between 2020 to 2024. The defendants frequently met and discussed the bribery scheme, including evidence on several phones.
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